In the business environment spreadsheet linking is a useful function that adds a lot of value to developments but also a lot of risk. The concept of spreadsheet linking can be defined as the linking of data between two or more spreadsheets in the same workbook or between workbooks. The spreadsheet linking function is useful when you have to calculate values from spreadsheets with lots of information.
Spreadsheet linking assists an Excel user to keep his Excel spreadsheets at a manageable size. Formulas within smaller spreadsheets will recalculate faster as large spreadsheets are generally unwieldy. Different view of your spreadsheet can be set up as you can select what data you would like to use for spreadsheet linking.
As said above it is possible to do spreadsheet linking between two spreadsheets within a workbook, but it is necessary however that the data you require to link is on separate sheets within your workbook. Once you have two or more sheets with data that you would like to link using the spreadsheet linking formula, you can create a third sheet within the workbook that will efficiently reflect the data, for example the total of the first quarter profit from 2005 and 2006.
Once you are ready to put in the link you will be required to:
You have just completed your first spreadsheet linking exercise.
If you create a link the ‘source’ file – the file that contains the data required for a different worksheet, contains the original data. The ‘destination’ file – the file in which the links are placed reflects only a copy of the data as it retains only the ‘address’ of the source file. Therefore the source file should be accessible at all times.
Excel has introduced a tool that allows you to edit and update the links in your workbook, Go to Edit, Links and here you will find a variety of options that can be used to manage your spreadsheet linking. Update Values, Change Source, Open Source, Break link and Check Status.
To remove the “Automatic update” pop up that shows every time you open a file that contains spreadsheet linking select Tools from the Excel toolbar, Options. Then Select the Edit tab; uncheck the “Ask to update automatic links”. Click OK, now when you start up a file the links will update automatically without requiring confirmation from you first.
T o receive training in how to use spreadsheet linking, how to create links between spreadsheets in different workbooks and how it can assist you in your everyday business life, contact Miricle Solutions. This company is experienced in both Excel and accounting and therefore provide useful tips and tricks to using Excel for your benefit, including spreadsheet linking.
Please fill in your details below to get regular Excel tips and tricks and a free Quick Reference Download!
Numbers seen as text in Excel A common problem, especially when importing data from other systems is numbers seen as text in Excel and not being treated like numbers e.g. they don’t add up and you get VALUE error messages. … Continue reading
Data table all same values When first using Data Tables in Excel you may come across a situation where you feel you have done everything correctly, yet the data table is clearly wrong as all the numbers in the middle … Continue reading
Adrian was really good. He explained everything really professionally- Bookkeeper.– Excel Testimonials
It dealt with my daily challenges at work- IS Management Accountant.
There was nothing I did not like about the workshop. Adrian was fantastic- Accountant.