It sure does. You might want to consider taking Lesson1 of Excel VBA
Training at
http://www.vbaexpress.com/training/
In a nutshell:
Put it in a module if you're unsure.
Anything that you want to occur on a specific worksheet as a result of a
specific action, put in the worksheet code.
Anything that you want to occur in the workbook, such as before you close it
or save it or when you open it, then the code should go in ThisWorkbook.
Well, there's class modules too. I know Chip Pearson has some good info
about it. Though it says Excel 97, things haven't changed a whole heckuva
lot:
http://www.cpearson.com/excel/events.htm
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~Anne Troy
www.OfficeArticles.com
www.MyExpertsOnline.com