How to remove decimal places permanently

Sudheer_Mambra  wrote:  ``the system gives some warning that the accuracy of the data would be lost [....] How serious is that issue?``

Very serious, IMHO.  But note that the warning of permanent loss of precisions applies only to constants, not formulas.

So if you have a formula like =100/3 that has unintended consequences after setting Precision As Displayed (PAD), you can reverse the misbehavior simply by deselecting PAD again.

However, suppose you have an interest rate like 2.345678%, which you display as 2.35% for aesthetic reasons.  When you set PAD, the interest rate actually becomes 2.35%.  If (and when) you discover that many dependent calculations are affected adversely, so you deselect PAD again, the interest rate remains 2.35%.

For that reason, it is imporant to heed the following warning:  Before setting PAD in an existing workbook, make a back-up copy of the Excel file.  If (and when) you discover untended consequences of setting PAD, you can revert to the back-up Excel file.

That said, setting PAD is the only method for achieving your requirement, to wit:  ``not looking for a formula like round, [...] but a solution that I can apply to an entire sheet [sic]``.  (Setting PAD applies to the entire workbook, not selected worksheets.)

IMHO, you should abandon that requirement.  The decision of what and when to round and to what precision should always be done on a case-by-case basis, IMHO.

Sudheer_Mambra 

How serious it depends on concrete data.

For example, for $100/3 result will be $33.33 (instead of $33.33333333333...) if you set precision on 2 digits. Multiplying back $33.33 x 3 = $99.99. Other words you lost one cent from $100 on such simple operations.