In Excel, you can name your cells and ranges of cells with more user friendly names. This comes in handy as your spreadsheets become more complex. It also comes in handy when you are sharing spreadsheets between co-workers.
File download available here: checkbook
This file is simple enough. I have an example checkbook with monthly salary and monthly expenses listed.
Select cell containing the monthly salary(B3). Now go up to the cell name box (circled in red)
Type a new name in the box – I used “Income”
You can do the same thing with a range. Select cells D3- D5, then rename it “Expenses”
If you check the drop down from the name box, you will see your new named cells in the drop down.
Let’s uses our new named cells (and ranges) to make a quick formula.