conditional format one column

can you conditional format on column based on information in another column? If so, how in Excel 2007. Thanks.

sorry didn't know it was such a vague question. Basically I want to be able to turn the cell green in one column (say col A) if it says "OPEN" in another column (say col B) which is right next to it.

Col A has an amount Col B says "open" or "closed"

So Cell A1 has $500 and Cell B1 says "open" it will color cell A1 Green. If B1 says "closed" it will do nothing to either cell.

I understand how I can conditional format B1 to be green, but not A1. Please explain, your second link tells me how to color cell B1 Green. But not A1. Is this possible?

in a1 choose 'formula is' option and enter
ist condition
=B1="open"

2nd condition
=B1="closed"

thank you, that worked perfectly. exactly what I was looking for.