I have a spreadsheet with the following SUMIF formula, which looks at another
(Large)workbook on our network.

=SUMIF('W:\HF\2005\Payroll\JAN 05\[Leave Liability_Staff_January.xls]Journal
Data'!$D$17:$D$65536,CD114,'W:\HF\2005\Payroll\JAN 05\[Leave
Liability_Staff_January.xls]Journal Data'!$H$17:$H$65536)

My problem is if I recalculate the formula without the linked sheet open I
get a #VALUE message. Is this an Excel bug or am I doing something wrong?

Thanks