Episode 3: LET – Cleaner Formulas, Faster Sheets

LET Syntax

Excel’s LET Function syntax uses name and value pairs, then a calculation:

Define variables in name/value pairs; the final argument performs a calculation using them.

Example:

In this example:

• x represents the calculation A2*B2
• Excel stores that result
• The formula then uses x in the final calculation

This keeps formulas shorter, clearer, and more efficient.

Why this matters in a legal environment

Legal finance and operations teams often work with spreadsheets that include:

• Fee calculations
• Realisation and recovery rates
• WIP adjustments
• Partner profitability reports

When formulas become complex, errors become harder to detect.

Using LET helps by:

✔ Making formulas easier to read and review
✔ Reducing repeated calculations
✔ Improving spreadsheet performance
✔ Supporting stronger auditability of financial models

Practical uses in law firms

• Matter profitability models
• Partner performance reporting
• Billing and VAT calculations
• Financial forecasting models

Small improvements in spreadsheet design can significantly improve confidence in financial reporting.

At Baskerville Drummond LLP, we regularly see how better spreadsheet discipline strengthens operational oversight across legal practices.

Next episode: How LAMBDA Create Your Own Excel Functions.

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