I have some lengthy formulas and would like to substitute labels for cell references but have been unable to do so. For example:

1 A B C D E
2 Year Income Expenses IncLessExp BalAccount
3 2007 1000 750 250 250
4 2008 1150 950 200
5 2009 1100 1200 (100)
6 2010 1350 1250 100
7 2011 1150 1200 (50)

In cell E4 I have =E3+D4 but would like to be able to use labels such as
=BalAccount + IncLessExp or, =BalAccount 2007 + IncLessExp 2008.

I believe I want to use labels rather than Names since I'll be referring to relative addresses. Once I get a formula correctly written for one year I'd like to be able to copy it to all other years. However, either I haven't defined the labels properly or I'm using an incorrect syntax since I receive the error message: The formula you typed contains an error".
I'm using Excel 2003.
Any help, or link to a source which provides examples of using labels in formulas, would be greatly appreciated.
P.S. When I previewed this post I saw that the formatting of my sample sheet
is not as I entered it. If it's not understandable, I'll try again.