Search notes:

Excel: File -> Options -> Formulas

Change options related to formula calculation, performance, and error handling.

Calculation options

Workbook calculation

Automatic
Automatic except for data tables
Manual (with tick to Recalculate workbook before saving)

Enable iterative calculation

See also Excel formula recalculation.

Working with formulas

Toggable options include

R1C1 reference style
Formula AutoComplete
Use table names in formulas
Use GetPivotData functions for PivotTable references
Suggest formula variations that are supported by older versions of Excel

Error Checking

Toggable options include

Enable background error checking

Choose color that indicate errors

Button to Reset Ignored Errors

Error checking rules

Toggable options include

Cells containing formulas that result in an error
Inconsistent calculated column formula in tables
Cells containing years represented as 2 digits
Numbers formatted as text or preceded by an apostrophe
Formulas incosistent with other formulas in the region
Formulas which omit cells in a region
Unlocked cells containing formulas
Formulas referring to empty cells
Data entered in a table is invalid
Misleading number formats

Compare these options with the xlErrorChecks enumeration which is used in the item() method of the errors object.