Make complex formulas readable again
A formula like "=B2*C2*$D$2" is nearly impossible to interpret months later without hunting down what each cell contains. Naming the relevant cells and using those names in your formulas instead lets you understand what a formula calculates at a glance.
What you can and cannot use in a name
Named ranges follow a few simple rules: names cannot contain spaces or start with a number, though underscores and periods are allowed. So a name like "tax rate" needs to become something like "tax_rate" instead, and it helps to keep names short but descriptive.
Frequently Asked Questions
Where can I see a list of all the names I have defined?
Open the Name Manager on the Formulas tab to see every name you have defined along with the range it refers to, and to edit or delete any of them.
Can a name include spaces or special characters?
Spaces are not allowed, and only a limited set of special characters β mainly underscores and periods β is permitted, so use something like "tax_rate" instead of "tax rate".