Open both the workbook that will contain the link called the destination workbook, and the workbook that contains the data you want to link to, the source workbook.
In the destination workbook, click Save.
Select a cell or cells in the destination workbook you want to link from, e.g. the cell D4.
If you are creating a new formula in the destination workbook, type = (an equal sign).
If you are entering the link elsewhere in the formula, type the operator that you want to precede the link.
In Windows taskbar at the bottom of the screen, click the name of the source workbook, and then click the worksheet that contains the cells you want to link to.
Select the cells or cell, e.g. B2, you want to link to. Go back to the destination workbook and complete the formula. When you finish entering the formula, press ENTER.
The reference to the cell B2 in the source workbook Book1.xls looks like this in a formula in the cell D4 of the destination workbook Book2.xls: =[Book1.xls]Sheet1!$B$2…(the rest of the formula).
When you change the cell B2 in the source workbook Book1.xls, the value of the cell D4 in the destination workbook Book2.xls changes either immediately if Book2.xls is open, or the next time it is opened.