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I would like to convert text time into real time via TIMEVALUE function in Excel. Time up to 24:00 converts fine, for time greater than 24 hours it converts into hours but excluding 24, I already used custom format [h]:mm, please see my printscreen.
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It sounds like you are using the TIMEVALUE function for text-to-time conversion. Use the VALUE function instead and format as
[hh]:mm.If you want to convert in-place, then use the Data ribbon's Text-to-Columns command.