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This feature can be found under Tools on the Worksheet Menu Bar. The good thing about this feature is it is very simple! Let us suppose we have three Workbooks that are all related in some way. When we have one of them open we also need to have the other two open. While they are all open we arrange the Windows by going to Window>Arrange and select the Horizontal option. Now we have all three Workbooks open within the same window. We can now work in all three books with relative ease. Each time we select the Window of a particular Window it becomes the active Workbook.
This is all well and fine, but lets face it we don’t want to have to do this each time we need to work with all three Workbooks. This is where Save Workspace comes into play. When we have set up our Workbooks how we want them using Widows>Arrange we simply go to File>SaveWorkspace, give our Workspace a name and that’s it! Each time you need to work with Workbooks we open the Workspace. A Workspace has the file extension of xlw.
Be aware though the workspace file does not contain the workbooks themselves, and you must continue to save changes you make to the individual workbooks. This means you must activate the Workbook (select any cell in the Workbook) to save changes to it.