Linking MS word and Excel is easy and quick.
Just copy the content from excel paste as a link to the MS word. By this, you can retain the link between Excel and word. Any changes made in the Excel will also be updated in the word.
It has 2 options,

The First option will keep the formatting as the source. That means, whatever the format is applied in the excel will be retained.

In the second option, the formatting will be applied based on the destination, that is ms word.

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