(Formulas Ribbon | Defined Names)

Excel defaults to using alphabetic rows and number columns e.g. you are currently in cell A3.  There are times especially when you are sharing worksheets with others that it would be nice to make the spreadsheets user friendly.  You can do this by renaming cells with labels that are more meaningful e.g. Income, Expense.  The labels will appear in formulas as well which means you can see how the result is made up.