How to Make a Watermark in Excel

1. Open the Excel workbook in which you want to create a watermark.
2. Click View on the Excel toolbar, or use the keyboard shortcut 'Alt' plus 'V.'
3. Click the View menu and select Header and Footer.
4. Choose Custom Header in the Page Setup dialog box that appears. Click the 'Center Section' so your cursor is active in the corresponding field.
5. Click the 'Insert Picture' button on the right; this button has a picture of mountains and the sun. Navigate to the picture that you wish to use as a watermark and double-click the graphic to insert it.
6. Click the 'Format Picture' button on the far right of the Header dialog box. Resize the picture to fit your page using the options on the Size tab.
7. Click the Picture tab. Under Image Control in the drop-down menu next to 'Color' choose Washout. This will give your graphic a watermark appearance.
8. Click 'OK' on the Format Picture dialog, and again on the Header and Page Setup dialogs.