Microsoft Excel Color Formatting?

I use Excel to sort through data for work. I would like to make a template so that when different text enters a row or column it will be a different color. Ex.- if "left" is entered into the spread sheet anywhere I want it to be blue. Or "right" is entered I want it to be red. Anyone have any idea on what the code to do this would be?

Microsoft Excel Color Formatting?microsoft money

Check out "Conditional Formatting" under the Format menu. This is what you need.