MS Excel - Cell Labelling

To whom it may concern,

In the attached file, how can I make it such that I can refer to cell B1 as Reporting_Date (as opposed to B1)  everytime that I want to use it in a formula in the same or different spreadsheets within the same Excel workbook?

For example, instead of (=A2+B1), I would write (=A2+Reporting_Date).
 
Thanks in advance.

-Maroulator
Example.xlsx
maroulatorAsked:
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Patrick MatthewsConnect With a Mentor Commented:
You are talking about defining a Name (sometimes also called a "named range", although a Name does not always have to be a range), which is an excellent practice.  

To define a Name:

1) Go to the worksheet with that cell
2) Click Formulas / Defined Names / Name Manager on the Ribbon
3) In the Name manager, click New, and define your Name

Now you can use the Name instead of a cell reference in your formulae.  In the Ribbon, you can use Formulas / Defined Names / Define Name / Apply Names to try and replace cell references with their corresponding Names.
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MichaelConnect With a Mentor Business AnalystCommented:
matthewspatrick explained it very well
just a small addition:
you can select  a cell or range and then type in the name here, followed by enter:
sreenshot named range
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