Assuming your 12 monthly values are in A2:L2 on Sheet1, You can use this
formula in versions prior to Excel 2007:

=IF(ISERROR(OFFSET(Sheet1!A2,0,COUNTIF(Sheet1!A2:L 2,"<0")-1,1,1)),0,OFFSET(Sheet1!A2,0,COUNTIF(Sheet1!A2:L2, "<0")-1,1,1))

In Excel 2007, you can use

=IFERROR(OFFSET(Sheet1!A2,0,COUNTIF(Sheet1!A2:L2," <0")-1,1,1),0)


"Ken" wrote in message
...
A row of 12 cells representing 12 months, all of which have an initial
value of zero. Each month a value is inserted into one cell, with the
value
remaining as each month passes. There is another cell in a separate
worksheet into which I want to place the most recently entered value from
the 12 cell row, i.e. it will overwrite the previous value.

I've tried using 'if' statements and various formula listed in the Help
files but without success. Can anyone offer a solution please?