What is Excel Code Function? Excel Code Function returns the ASCII value of the first character in a text. ASCII (American Standard Code for Information Interchange) uses 8-bit code units, an old encoding system which stores mainly numbers, lowercase letters a to z, uppercase letters A to Z, basic punctuation symbols, control codes. Many old systems still use this encoding system. 8 bit means the computer memory uses “8” digits with 1 and 0 combination (binary) to represent a character, 8 bits ...