The Range Name command allows us to name cells, ranges, values or formulas
These names are available in the name box on the Formula Bar.
You can automatically create names for cells based on existing row or column titles on your worksheet.
Example, the formula =Assets-Liabilities is easier to read than the formula =F6-D6
As a result Your worksheet then becomes self documenting.
Example, by defining the name Margin as =$F$12, you can replace all references to cell $F$12 with the name Margin.
1. Enter the data shown and including the formula shown in cell B4
2. Highlight the cells A2:B3
3. Now use the menu option Insert Name Create to create suitable range names
The dialog box will allow you to chooses the labels you wish to use.
The default is fine here so click the OK button.
That's it you have created Range Names for Sales and Costs for cells B2 and B3.
However if you highlight the cell with the formula, B4. you will see the formula is unchanged.
To have the cell references in formulas replaced with their new names requires us to Apply the names.
4. Click on cell B4 and select the Insert Name Apply command.
Now if you check your formula bar it should read = Sales - Costs.
Practice Exercise
You should attempt the Range Name exercise from the Spreadsheet Exercises listed in the Topic Menu below.