Excel Named Constants

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Excel Named Constants - Assign Value to a Constant/Text

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Let's look at Named Constants. These are simply values that are given a meaningful name. For example, let's say you have a Workbook that has many formulas using the percentage of 20% and this represents some sort of 'special tax'. You can replace all those occurrences of 20% with a Named Constant like "SpecialTax". Here is how you do this.

1) Go to Insert>Name>Define and in the "Names in workbook" box type: SpecialTax
2) Now click in the "Refers to" box and type: =0.2 then click Add.

Now you can replace formulas like: =SUM(Yr2005Figures)*20% with: =SUM(Yr2005Figures)*SpecialTax

If you already have many Excel formulas using the 20% in their calculations, you can either use Edit>Replace or Insert>Name>Apply to replace them with ease.

The best thing about Named Constants is that any constant can be changed to another value globally via Insert>Name>Define.

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