If Excel detects a circular reference on the same
sheet as the user is currently working on, this is displayed in the bottom left corner of the Excel application. The text
circular reference is followed by the
address of the
cell where the circular reference is found:
However, if the circular reference is on another sheet, only the text *circular reference is displayed:
In such cases, the location fo circular references can be found using the tab
Formulas, and then by selecting
Error Checking from
Formula Auditing (text hidden in picutre):