Excel is a versatile tool for data manipulation. Particularly useful is the ability to link information between different Excel files. In this tutorial, you will learn how to create references from external Excel files and efficiently work with multiple data sources.
Main Insights
- Linking to external Excel files allows you to store data centrally and still access it from different files.
- Changes in one source will automatically affect all linked files when they are open.
- Excel can automatically update the links, saving you time and effort.
Step-by-Step Guide
Step 1: Creating a New Excel File
First, you need to create a new Excel file to import the values. Open your Excel program and click on "New" and then "Blank Workbook".
Step 2: Preparing the Data
Now, copy the interest rate data from the original file. Select the cells containing the required values, and press Ctrl + C to copy them. Then, go to the new worksheet and paste the data using Ctrl + V.
Step 3: Setting File Names and Storage Location
Name the new file as "Interest Rates 2016" and save it in an easily accessible location, such as your desktop. Make sure to save the file in Excel format.
Step 4: Preparing the Original Sheet
Go back to the original file and delete the sheet you used for work. This ensures that you are working only with the values currently needed and eliminates unnecessary links or data remnants.
Step 5: Creating a Link to the New File
To use the interest rates from the newly saved file, go to the cell reference in your current file. Start by right-clicking on the cell where you want to insert the reference. Select "Insert Formula" and navigate to your "Interest Rates 2016" file that you recently created.
Step 6: Inserting the Cell Reference
When you open the worksheet "Interest Rates 2016," you can select the specific cell (e.g., A2) containing the desired value. After selecting the cell, click "OK" or press "Enter" to create the link.
Step 7: Adjusting Cell References
Once the cell reference is inserted, you will notice that Excel creates the reference as an absolute value. You can change this by modifying the reference in the formula bar to a relative value, making it easier to handle in other cells.
Step 8: Auto Fill
Utilize Excel's auto-fill function to transfer the formulas to other cells. Drag the small square in the corner of the selected cell downwards to repeat the base patterns.
Step 9: Creating Links to Additional Sheets
If you want to add a second table for 2015, create a new sheet and repeat the above steps to add the new values from the "Interest Rates 2015" file. This allows you to compare various interest rate data.
Step 10: Updating Links
Remember to save all documents. If you make changes to the "Interest Rates 2016" or "Interest Rates 2015" file, make sure to open the main file containing all the links to retrieve the latest data.
Summary
In this guide, you have learned various steps to establish references between multiple Excel files. You can now centralize data and access it efficiently, which significantly eases your work. Remember to update the files regularly to stay up-to-date with the latest changes.
Frequently Asked Questions
How do I create a reference to an external Excel file?Copy the desired cells, open the target file, click on the cell for the reference, and paste the formula with the reference to the external file.
What happens if I change the cells in the external file?If the target file is open, the changes in the main file will be automatically updated once you open it.
Can I link multiple external files?Yes, you can link as many external files as you want, as long as you establish the corresponding cell references correctly.
Does the linking work when the external file is closed?Yes, the values will be updated when you open the file that contains the links, but there may be a delay in retrieving the latest data.
