Here's the solution:

First you have to set up the Excel document first by creating an
"anchor":

1. Open the Excel document to the worksheet you want to link (ie.
exceldocument.xls) to the select cell A1
2. Go from the file menu go to INSERT Name Define
3. Type in a short name with only letters and numbers no spaces (ie.
myanchor) and then click OK
4. Save you Excel document

Now you can create your link:

5. The URL should be your excl document #(your defined name). For the
example above it would be exceldocument.xls#myanchor or if you need to
see the whole tag it would be <a href="exceldocument.xls#myanchor"

Voila!

I've test this and it works properly.

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