I have no idea what GESTEP is, but SUMIF doesn't like closed workbooks, so
try

=GESTEP(CurrentPeriodNumber,AE$451)*
ROUND(SUMPRODUCT(--(FigaroTBMaster.xls!FigeroYTDNominal=$A34),
FigaroTBMaster.xls!FigeroYTD04),0)


--
HTH

Bob Phillips

(remove nothere from email address if mailing direct)

"Philip J Smith" wrote in message
...
Hi.

I have an expression in my main Management accounts workbook.

=GESTEP(CurrentPeriodNumber,AE$451)*
ROUND(SUMIF(FigaroTBMaster.xls!FigeroYTDNominal,"= "&$A34,
FigaroTBMaster.xls!FigeroYTD04),0)

Were "CurrentPeriodNumber" =4,
AE$451 =4,
$A34 ='99999
"FigaroTBMaster.xls" is the workbook containing the source data,
"FigeroYTDNominal" and "FigeroYTD04" are named ranges within the source
file.

The expression works when the source file is open, but not when it is
closed.

Can named ranges be used in formulae which link workbooks?