I have created an offset formula linked to an external spreadsheet. When the
external spreadsheet is open, the information is updated and is correct.
When I close the external spreadsheet, the cell changes to "#value".

=OFFSET('T:\Operations Finance\Hyperion\Statistics\Data Actuals\[Manual
Statistics_CY.xls]OAKS'!$A5,0,$B$4)/100

Can the offset formula be used with an external spreadsheet reference?
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AJ