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Default Wildcards and if

I don't know how to explain let alone set this up. I have some information
from a database that relates to a separate database. I need to cojoin the
information in excel. The problem is the first information needs to have the
common field changed. It was entered as 0545 and should have been O545, and
there is more than one group like this. I need to say something like this
=if(A5=0*,O*,A5)

I know this doesn't even come close to the solution, but what I am trying to
do is set up another column that changes the particular fields that are a
problem, they are not all a problem so must just change some. I don't even
know if excel will change the 0 to an O and keep the rest of the field. It's
sort of like an update in Access. Does anyone know if it can be done? Thanks
 
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