There are two main ways to identify circular references in Excel:

1. Using the Formula Auditing Tools:

* Go to the Formulas tab.
* In the Formula Auditing group, click the down arrow next to Error Checking.
* Select Circular References from the dropdown menu.

- This will display the cell address of the first circular reference found in the worksheet.

2. Checking the Status Bar:

* If there's a circular reference, the status bar at the bottom left corner of the Excel window will display Circular References along with the cell address (if only on the active sheet) or just Circular References (if on other sheets).

Additional Tips:

* You can repeat step 1 (Error Checking > Circular References) to find subsequent circular references after addressing the first one.
* Excel also offers features like Trace Precedents and Trace Dependents under the Formula Auditing group. These can help you visualize the flow of calculations and potentially identify circular loops within formulas.
* By manually reviewing formulas in cells flagged for circular references, you can often pinpoint the source of the issue and adjust the formula accordingly.