FLOOR Formula in Excel

What Does It Do ?
This function rounds a value down to the nearest multiple specified by the user.

Syntax
=FLOOR(NumberToRound,SignificantValue)
Formatting
No special formatting is needed.
Example
The following table was used to calculate commission for members of a sales team.
Commission is only paid for every £1000 of sales.
The =FLOOR() function has been used to round down the Actual Sales to the nearest 1000, which is then used as the basis for Commission.