TRUNC function

CraigCWIS  wrote:  ``is [there] a way to apply the TRUNC function to the entire sheet``

First, if you want to match what you see when you format to display 2 decimal places, you should use ROUND, not TRUNC.

If you agree that ROUND is what you mean, you might set the option "Precision as displayed" (PAD).

Caveat:  Be sure to make a copy of the file before setting that option.  When you set PAD, it might change some constants irreversibly.

Normally, I do not recommend (in fact, I discourage) the use of PAD.  The caveat above is just one reason.  Another reason is:  PAD applies to all cells in all worksheets indiscriminately.

Even though you say that is what you want,  you might discover it really isn't.

Moreover, PAD applies only to the final cell value.  It does not apply to expressions within formulas. 

Consequently, you might stumble over differences; for example, between =A1+A2 in one cell, and =IF(A1+A2 = A3,...) in another cell.

(The latter must be changed to =IF(ROUND(A1+A2, 2) = A3,...).)