Just lost lot of work today. Can someone please let me know how to use these
feature best for future? Appreciate it.
There is no Auto backup function in XL. You can set each file to create
a backup *when saved* (click the Options Button in the Save As dialog).
If you want all new files to create a backup, check that checkbox when
you save your default workbook (i.e., the file "Workbook", no quotes, no
extensions, in your XL startup folder).
Autorecover settings depend on how frequently you want to save (more
frequent if you're entering a lot of data, less frequent if not - I use
5 minutes). Autorecover can cause XL to pause momentarily while the
autorecover file is saved, so more frequent is not necessarily better.
Autorecover only protects against crashes - when XL starts up, it looks
for an Autorecover file. If one exists, XL presumes there was a crash,
and opens the Autorecover file. Autorecover files are deleted when you
close XL normally.
The best usage is, as in Word, to get used to typing CMD-s frequently.