Excel knows that one cell cannot have 2 different values.
So if you have two files open both with links to the same cell in a
closed file it strives to make the two values the same.

Since you didn't allow File Aug to go and read File YTD when you opened
File Aug, Excel decided to take the old value for the linked cell from
File Aug.

It may not be what you want, but it is what Excel has alweays done.

Bill Manville
MVP - Microsoft Excel, Oxford, England
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