Conditional formatting creates rules for selected text. This allows you to change the font, fill color, and border settings depending on the content or the contents of another cell. When your criteria are met, the conditional formatting is applied. For example, you can set a rule for a cell's fill color to turn red if the criteria is met. It is a great tool to quickly find discrepancies in large amounts of data or find line items that are over budget.

Here is an example of finding any values in a range greater than another cell:

First highlight the cells you want to create the rule for.

From the Home tab, in the Styles section, Choose Conditional Formatting.

 
In this example, I want to highlight any cells that are greater than cell F1. So I would select the Highlight Cells Rules, then Greater Than. When the Greater Than box pops up, I am going to click the spreadsheet icon with the red arrow. That will take me to my spreadsheet where I can click on cell F1. After you have selected the cell, click the box with the red arrow to take you back to the Greater Than screen.

The default conditional formatting setting is Light Red Fill with Dark Red Text. Click on the drop down box to see other defaults. Or you can create your own. Then Click OK.

 The end result quickly shows which cells are greater than cell F1.