Including an Office Document in an Excel Worksheet To link to an external document
On the Insert menu, click Object.
Click the Create from File tab to display the Create from File tab page.
Navigate to the target folder, and double-click the file to include in the workbook.
Select the Link to file check box.
Including an Office Document in an Excel Worksheet To edit a linked file
Right-click the linked file, and then, from the shortcut menu that appears, point to Presentation Object (in the case of a Microsoft PowerPoint presentation) and then click Edit.