Kathryn Gies <Kathryn wrote...
....
. . . My problem is, when I move the entire set of
workbooks (all years at the same time) to a different location on my
computer, all the links to a file within the same folder move and update
properly, but the links that are to the previous year (i.e. another folder)
try to link back to the previous file location. . . .
....

This is a problem with Excel. Your choices are manually changing the
links using the Edit Links menu command or using a Workbook Open
event handler macro to detect the workbook's own drive/directory,
deriving the previous year's directory location from it, and updating
the links to that folder.