Have a look at ToolsOptionsEdit and "Fixed Decimal Places"

Checkmark it and set it to "2"

Enter 1234 and it will change to 12.34

Perhaps this setting is confusing the issue.

Gord Dibben Excel MVP

On Thu, 17 Jun 2004 17:35:33 -0700,
wrote:

How can I set the default newly opened spreadsheet to be
globally set to say 2 decimal places please ? The Tools
option allows you to set decimal places to 2 but simply
takes any number you enter and multiplies by 100. ie
entering 1234 displays as 12.34. I want the default to be
the same as globally selecting the whole sheet and then
setting the number format to 2 decimal places.
Thanks.