Microsoft Excel files that contain multiple worksheets are known as workbooks. A new Excel workbook contains three worksheets, but users have the flexibility to add or remove sheets based on their project needs.

Microsoft Excel workbooks serve as powerful organizational tools due to the software's ability to separate large amounts of data into separate worksheets. Someone managing a small business might record expenses in one worksheet and revenues in a separate worksheet. A third worksheet might perform various calculations to show the profits of the business.

One may use exclamation points as part of formulas when specifying specific values from different worksheets. For instance, using the hypothetical formula =Revenues!B1 grabs the value from cell B1 on the Revenues worksheet and allows it to be inserted or used as part of a calculation in a different worksheet.