Excel's LET and LAMBDA Functions

Author: David H. Ringstrom

Get up to speed on the LET and LAMBDA functions in Microsoft 365. In this course Excel expert David H. Ringstrom, CPA sets the stage by explaining the concept of using range names in any version of Excel. Range names simplify formula writing and create navigation aids. The LET function lets you create nicknames, similar to range names, within formulas. These nicknames can stand in for inputs, or even calculations, so that you don't have to repeat portions of a formula. Conversely, the LAMBDA function enables you to create custom worksheet functions in Excel without having to write any code. LAMBDA functions can be transferred between workbooks in Excel.

David demonstrates every technique at least twice: first, on a PowerPoint slide with numbered steps, and second, in the subscription-based Microsoft 365 (formerly Office 365) version of Excel. David draws your attention to any differences in the older versions of Excel (2021, 2019, 2016 and earlier) during the presentation as well as in his detailed handouts. David also provides an Excel workbook that includes most of the examples he uses during the course.

Microsoft 365 is a subscription-based product that provides new feature updates as often as monthly. Conversely, the perpetual licensed versions of Excel have feature sets that don't change. Perpetual licensed versions have year numbers, such as Excel 2021, Excel 2019, and so on.

Publication Date: October 2022

Designed For
Practitioners seeking to stay up to date on the latest functionality in Excel.

Topics Covered

• Create your own custom worksheet functions without writing any code in Microsoft 365 with the LAMBDA function
• Creating bookmarks and nicknames for key inputs by way of the Create Names from Selection feature
• Documenting IF functions by using LET to assign nicknames to the inputs
• Exploring the risks and benefits of participating in the free Microsoft Office Insider program
• Incorporating decisions into calculations with Excel's IF function
• Navigating directly to inputs by using Excel's Name Box, and then returning to the previous location in the workbook via the Go To command
• Streamline formula writing with by creating nicknames for repetitive values with the LET function in Microsoft 365
• Transforming cell references into range names by way of the Apply Range Names to Formulas command
• Using range names to streamline formulas and bookmark key inputs within a workbook

Learning Objectives

• Describe the arguments used in the LET function
• Recognize the steps necessary to create range names in Excel
• Identify how to use the LAMBDA function to create custom worksheet functions
• Identify in which section on Excel's File menu the Office Insider command appears
• Recognize what the PRODUCT function does
• Identify the command that enables you to automatically assign range names to a block of cells
• Identify what #NAME? signifies in Excel
• Identify in what versions of Excel the LET function is available in

Level
Advanced

Instructional Method
Self-Study

NASBA Field of Study
Computer Software & Applications (2 hours)

Program Prerequisites
Extensive prior experience with Microsoft Excel

Advance Preparation
None