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In the tab below you can see
Excel's default settings for this page.
Automatic
Will calculate dependant
formulae and charts as you update cells
Automatic
except tables
As above apart from any data
tables will not update automatically.
Manual
This setting is useful if you
have a very calculation intensive spreadsheet.
Functions such as IF and VLOOKUP slow things
down tremendously so switching this to manual
will make data entry acceptable.
 If
set to 'Manual' the word 'calculate' will appear
on the status bar (as left), and you will either
need to:
- Press the 'Calc Sheet' button (above),
which calculates the current worksheet and
any dependant charts.
- Press the 'Calc Now' button or press F9
which will update any dependant formulae or
charts in all worksheets of the current
workbook.
- Press Shift+F9 to do a 'Full
Calculation' of all open workbooks, formulae
and charts.
The 'Calculate before save'
button is checked by default if 'Manual' is
selected. If your saving time is great you can
uncheck this to speed it up.
The calculation setting here
is workbook specific and if you have multiple
workbooks open is determined by the last
workbook opened.
Iterations
These are used for both 'Goal
Seek' and deliberate 'Circular references'
(Formulas that refer to themselves).
It allows you to set the
number of iterations, (loops) and/or the amount
by which the value changes between iterations.
Update remote
references allows Excel to update an
calculations that rely upon external
applications.
Precision
as displayed will 'trim' Excel's normal
15 digits of precision down to only that
displayed. To further understand this, you may
wish to check out the intro to 'formatting'.
1904 date
system moves the 'first day' for Excel
from 1st January 1900 to 2nd January 1904. This
was to avoid the 'error' that Excel built-in to
keep compatibility with the then market leader,
Lotus 1-2-3. This error had presumed that
1900 was a leap year, which it wasn't. This
setting corrects any issue around this. It
is also the default for Mac operating systems.
(To further understand dates in Excel,
check out here).
Save
external link values saves the values of
linked formulas to other workbooks in a cache
within the workbook so that they do not need to
be updated each time. If the overhead in file
size and workbook opening is unacceptable, you
can un-check this option.
Accept
labels in formulas is a feature that
allows you to set row and column headers in a
range that can then be used in formulae, (See
below). It is possible to set labels without
defining them, but if you must use this route it
is safer to define the names first via
Insert>Name...>Label....
Data results
Formulas
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