This error occurs when a cell reference is not valid.

  1. Optionally, click the cell that displays the error, click the button that appears button image, and then click Show Calculation Steps if it appears.
  2. Review the following possible causes and solutions.

    Deleting cells referred to by other formulas, or pasting moved cells over cells referred to by other formulas

    Change the formulas, or restore the cells on the worksheet by clicking Undo button image immediately after you delete or paste the cells.

    Using an Object Linking and Embedding (OLE) link to a program that is not running

    Start the program.

    Linking to a Dynamic Data Exchange (DDE) topic such as "system" that is not available

    Make sure that you're using the correct DDE topic.

    Running a macro that enters a function that returns #REF!

    Check the function to see if an argument refers to a cell or range of cells that is not valid. For example, if the macro enters a function that refers to a cell above the function, and the cell that contains the function is in row 1, the function will return #REF! because there are no cells above row 1.