Naming Constants and Formulas

So far a name pointed at a block of cells. But a name can also store a fixed value or even a whole formula, no cells required.

This lets you keep important constants in one place and give complex calculations a short, meaningful label.

• TaxRate could equal the number 0.18.
• GrandTotal could equal a SUM formula you reuse everywhere.

To store a value under a name in Excel, open the Name Manager on the Formulas tab and click New.

• Type a name such as TaxRate.
• In the Refers to box, enter =0.18.
• Click OK.

Notice you type the value with a leading equals sign. Now TaxRate behaves like a cell holding 0.18, but it lives in the workbook's definitions instead of a visible cell.