What is autocorrect? From microsoft help: “a built-in proofreader that automatically corrects common typos, misspellings, grammatical errors, and incorrect capitalization.”
You can access the autocorrect dialogue box by clicking Tools->Autocorrect Options. For a detailed explanation you can read more at Microsoft’s website.
You can also use autocorrect as a shortcut to save time typing long names, places, or things. For instance if you work at the company “Superior Banking and Investments LLC.” you can set the autocorrect options to correct “mycompany” with “Superior Banking and Investments LLC.”, and every time you type the former in a cell it will change it to the latter.
And a final note about autocorrect for helpdesk employees or someone working in an office with a prankster or two. A lame joke someone may play on a less informed employee is to alter the autocorrect options slightly or altogether. For instance when an employee enters their name “John Doe” it changes it to “Johny Doe” or “Worst Employee Ever!”. Just remember the first place to look in a situation like this is the autocorrect settings.