Do you have a spreadsheet that has a few values that you use throughout your spreadsheet? Like VAT. Some of these values may change frequently others rarely. You can make them easier to use by using a named range.
If you have a cell with the vat rate in if . say cell B2 on Sheet1. Instead of calling Sheet1!B2 within calculations to use the value, rename B2 vat.
If you select B2 and look at the front of the name bar you will notice ic small box with B2 written in it. When you pause you Mouse over this the name of if appears. Name box.
Click into this box and type the name you would like to use, no spaces allowed. I am going to cs11 mine VAT. Then press enter. The name is now saved and can be used. If I have a valve on C10 of another worksheet I can create a formula in cell D10 of = C10 *VAT this will multiply the value in C10 with the value in VAT.
This is only one use of naming, it is an extremely useful tool.
Katherine