Format Numbers to Display Thousands / Millions

Sometimes you might want to display your numbers in multiples of thousands while retaining the actual values. For example: you have a number 10000 (ten thousand) in a cell. Keeping this, you want to show this number as 10. I do this all the time while presenting financial statements since numbers are huge. Do the following to achieve this.

Select the cell(s) you want to display in thousands, right click and select Format Cells. In the Format Cells dialogue box > Number tab > Select Custom in category > enter 0, (zero followed by a comma) in the Type box, click OK. Now see the cell value, it should have already become 10. Note that cell value 10000 is still there (you can notice in formula bar) but only displayed as 10 (in thousands)

Similarly, if you want in millions, Type box should contain 0,, (zero followed by two commas)