It's strictly a separator between the name of the sheet and the cell
designation (name or address).

Enter 100 in A1 of Sheet1.

Enter an equal sign ( = ) in B1 of Sheet1, and then click in A1 of Sheet1
and hit <Enter.
You see 100 in B1 and when you click in B1, in the formula bar you see,
=A1.

Now enter an equal sign in B1 of *Sheet2*.
Then navigate to Sheet1, and click in A1, and hit <Enter.

You have the same 100 displayed in B1 of Sheet2, but what you see in the
formula bar is,
=Sheet1!A1

--
Regards,

RD

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"Joseph N." wrote in message
.. .
=INDIRECT("Sheet"&J7&"!D39")

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