Watermarks are images or text that appear behind the content in a document. They can be used to identify the document, indicate its status, or provide other information. Excel supports adding watermarks to worksheets.
To add a watermark to a worksheet, select the worksheet that you want to add the watermark to. On the Insert tab, in the Text group, click Watermark. In the Insert Watermark dialog box, under Select Image, click the image that you want to use for the watermark. You can also click Custom Watermark to insert a text watermark.
After you insert a watermark, you can change its appearance by doing the following: