diff --git a/react-app/src/components/projects/AddProject.tsx b/react-app/src/components/projects/AddProject.tsx
index 24dd9d409..52ae2d86a 100644
--- a/react-app/src/components/projects/AddProject.tsx
+++ b/react-app/src/components/projects/AddProject.tsx
@@ -153,8 +153,8 @@ const AddProject = () => {
               label={'Net Book Value'}
               rules={{
                 min: {
-                  value: 0.01,
-                  message: 'Must be greater than 0.',
+                  value: 0,
+                  message: 'Must be 0 or greater.',
                 },
               }}
               required
diff --git a/react-app/src/components/projects/ProjectForms.tsx b/react-app/src/components/projects/ProjectForms.tsx
index 63b6abb27..9c9ffe0fa 100644
--- a/react-app/src/components/projects/ProjectForms.tsx
+++ b/react-app/src/components/projects/ProjectForms.tsx
@@ -159,8 +159,8 @@ export const ProjectFinancialInfoForm = () => {
           label={'Net book value'}
           rules={{
             min: {
-              value: 0.01,
-              message: 'Must be greater than 0.',
+              value: 0,
+              message: 'Must be 0 or greater.',
             },
           }}
           required
diff --git a/react-app/src/utilities/formatters.tsx b/react-app/src/utilities/formatters.tsx
index 223e2fb7a..c5d9f3c68 100644
--- a/react-app/src/utilities/formatters.tsx
+++ b/react-app/src/utilities/formatters.tsx
@@ -80,7 +80,7 @@ export const formatMoney = (value?: number | ''): string => {
     style: 'currency',
     currency: 'USD',
     minimumFractionDigits: 0,
-    maximumFractionDigits: 0,
+    maximumFractionDigits: 2,
   });
   return formatter.format(value || 0);
 };