Snb/Rick,

Thank you both. I appreciate your time. The final product I am using looks like this:

Code:
  Sub FormatTexttoNumbers()
    Dim Col As Range
    On Error Resume Next
    Set Col = Application.InputBox("Please select a column...", Type:=8)
    Set Col = Columns(Col.Cells(1).Column)
    Col.NumberFormat = "0.00"
    Col.Value = Col.Value
  On Error GoTo 0
End Sub
I tried to use Snb's code for a shorter solution but it didn't seem to change the format, it seemed to be the same problem as before. The formatting wasn't changing. Does this look like a good solution? I am unfamiliar with error handling. I have only used it in one macro I have written. Is it considered proper to put the error statement below the Dims or should it come before all statements at the beginning of the macro?