Data entry issue with Excel 2011

Hi guys. New join here.

Just got Office 2011. Funny issue with Excel.
When I enter data in a cell and hit return, selection stays on the cell.
When I hit return again, THEN it goes down.
I went to Preferences -> Edit -> "After Pressing RETURN move selection:" (Down) and it is clicked.
This is weird and very annoying because it means everytime I want to enter something manually in a cell I have to hit enter twice (or TAB twice), otherwise I keep typing things in the same cell over and over again. Very annoying.
Thanks.

Originally Posted by royUK

Excel 2011, is this on a Mac?

Roger. I have owned Excel 2004 and 2008 as well - and have 2003, 2007, and 2010 on my virtual machine. This is the first time I have ever seen this behavior.

Hitting return after entering data or a formula takes me out of editing mode but the cell remains selected. THEN when I hit return again (or tab) it advances to the next cell down (to the right).