3 reasons to use named cells and ranges in Excel forumlas

I use named cells, ranges and constants in my Excel formulas and workbooks for 3 reasons:

1. They are easier to explain (to others and to myself 6 months after I create a formula.)
2. They are easier to adapt (to other locations in the workbook – absolute cell references not required!)
3. They are easier to update (especially named constants in formulas when e.g. rates change.)

These are the steps to follow in this Excel training video:

1. Select the cells that you want to name and also the labels in the left column and top row.
2. Choose, Insert, Name, Create. Make sure that Left column and top row are selected.
3. To verify that your names have been created, click the Name box drop down list of names. Select a name and Excel takes you directly to that cell or range.
4. To substitute Name cells and ranges in existing formulas: Choose Insert, Name, Apply, OK
5. When you are writing a new formulas and you want to use a name, use the F3 “Paste Name” shortcut combination to select the name you want in the formula and click OK.
6. A “Named Constant” does not refer to a cell. Select Insert, Name, Define and then Name the Constant and in the “Refers to” part of the dialog box type in e.g. =0.0825 if you want your Named Constant to refer to a Sales Tax rate of 8.25%

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Related Video Training Topics

• Name a cell and use it in a formula