I figured out the solution to my problem. I was using the afterupdate event. I should use the BeforeUpdate event to validate the event and set cancel to True as shown in the code example below.
Private Sub Basis_BeforeUpdate(ByVal Cancel As MSForms.ReturnBoolean)
'Validates the input is numeric
If IsNumeric(Me.Basis.Value) = True Then
Me.Basis.Value = Format(Me.Basis.Value, "$ ##,###,##0.00")
Else
MsgBox ("Invalid Value, Please Re-enter")
'Value Reset to Blank
Me.Basis.Value = ""
'Returns to field for input
Cancel = True
End If
End Sub
My thanks to those who responded with suggestions.
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