How to make excel not round up??

Value is actually $12.96777 which rounds up to $12.97 - how can I make excel stay at 12.96? (Round down?)

$402 billed hours, divided by 31 days.. $12.96777 – when the decimal places are removed to xx.xx, the values is rounded up to $12.97, is there a way to stop this from happening..

Excel isn't actually rounding up the value in the cell, it's simply rounding the display (up or down based on normal rounding). Calculations based on that cell will still reference 12.96777, unless you have told Excel to "Set precision as displayed" beneath Excel Options > Advanced > "When calculating this workbook:". (Besides Merged Cells, probably one of the least recommended "features" in Excel.)

I don't believe there's a way to truncate values as displayed instead of rounding.

Try using FLOOR function, e.g. if hours are in A1 use this formula to divide by 31 and round down

=FLOOR(A1/31,0.01)

Just know that when you do this, your results will be skewed. In this case alone your result is 0.24 from reality. (12.96 * 31 = 401.76, while 12.96774 * 31 = 402) If your real data involves very small numbers like this, and a quarter isn't the end of the world, great. If you're dealing with larger numbers, summing multiple "results", etc. then your "results" will get farther and farther away from reality.