Is there a good practice to follow when creating a design in Photoshop so that it's easy to change colors later on?

For example, if it's possible to create a color swatch where I reference a color slot in my swatch instead of the color code. So PS would know that in that layer I'm using the color slot #3 from my swatch. When I later change the color in slot #3 then all places referencing that color would update.


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