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Maximum formula length

Unsure if this is actually in reality an Excel issue, but I just spent a couple of days troubleshooting a report that contained a formula that was simply too long. It appears there is a 255 character limit. Excel (2007) does not state it has a problem with this, but Jet comes up with a message that you cannot mix nested formulas and names or something (only after three days did i see it may be that it was just too long).

Now, which do you feel is more legible?

=NL("Rijen";"Vendor Ledger Entry";"Vendor No.";"Limiet=";"20";"+=NL(""Som"";""Vendor Ledger Entry"";""Amount"";""Vendor No."";NF(;""Vendor No."");""Document Type"";""Invoice|Credit Memo"";""Open"";""<>0"";""Due Date"";"""&$B$43&""")";"*";"Document Type";"Invoice|Credit Memo";"Open";"<>0";"Due Date";$B$43)

OR

=NL("Rijen";$L$47;$M$47;$L$48;$M$48;"+=NL(""Som"";"""&$L$47&""";""Amount"";"""&$M$47&""";NF(;"""&$M$47&""");"""&$L$49&""";"""&$M$49&""";"""&$L$50&""";"""&$M$50&""";"""&$L$51&""";"""&$M$51&""")";"<>0";$L$49;$M$49;$L$50;$M$50;$L$51;$M$51)

The latter is btw also the longest possible as adding an L/M52 pair (i.e. COMPANY=) makes it go over 255…

I vote for the first option, which would require a stretch of the maximum formula length to more than 255 chars. Who else feels this to be desirable?

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