“Wow!” is a feeling that you get when your sheet is ready with all formulas and logics put in.
But suddenly you wonder why is this 1 particular logic/formula going wrong. So you check the formula, it seems perfect. But yet, something is still wrong.
 
What you need to do now is simply trace which formula is dependent on which other formula(s)/values in cells and so on. This is a tough task if you start reviewing each formula again.
 
Excel Simplified it for you! Go to “Formulas” tab on the ribbon and under the Formula Auditing Section, click on “Trace Precedents”. This will draw arrows from that particular cell (your current selection) to the cells from where your formula is being derived. Similarly, you can use “Trace Dependents” to know in which cells in this particular cell’s formula/value being used as reference/precedent.
 
This is how the arrows will look: –
Arrows showing Precedents