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SharePoint Document Issues

Fix Excel Server Errors When Updating Linked Workbooks in SharePoint

Khadija KhanKhadija Khan Oct 10, 2026 869 views

Question details

The user is experiencing server errors when attempting to update external links between Excel workbooks stored in SharePoint Online.

Fix Excel Server Errors When Updating Linked Workbooks in SharePoint
Product
Microsoft Excel and SharePoint Online
Device & OS
not provided
Scenario
Updating values and external references from a source Excel workbook hosted on SharePoint Online.
Observed behavior
Excel fails to retrieve values from the linked workbook, and the Manage Workbook Links panel displays a server error.
Before you start

Ensure you have an active internet connection and verify that you still have read or edit permissions for both the source and destination workbooks in SharePoint Online.

Solution 1Recommended

Enable External Content in Excel Trust Center

Modifying your Trust Center settings to allow external content ensures Excel is not blocking the connection to your SharePoint workbooks.

By default, Excel's security features may block automatic updates from external sources, including files stored in SharePoint. Adjusting these settings can restore the link updates.

1
Open Excel Options

Launch Microsoft Excel, click on the File tab in the top-left corner, and select Options at the bottom of the menu.

2
Access the Trust Center

In the Excel Options window, click on Trust Center in the left-hand navigation pane, then click the Trust Center Settings button.

3
Modify External Content Settings

Select External Content from the left menu. Under 'Security settings for Workbook Links', select 'Enable automatic update for all Workbook Links'.

4
Save and Restart

Click OK to save the changes, close Excel completely, and reopen your workbook to see if the SharePoint links update successfully.

Enable External Content in Excel Trust Center
Security Warning: Only enable automatic updates for workbook links if you fully trust the linked files and the SharePoint environment they are hosted in.
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Frequently Asked Questions

Why does Excel say it cannot retrieve values from a linked SharePoint workbook?

This error typically occurs when Excel's Trust Center blocks external content for security reasons, your Microsoft credentials need to be refreshed, or the source file in SharePoint was moved, renamed, or deleted.

How can I manually force Excel to update links to a SharePoint file?

You can force a manual update by going to the Data tab, clicking on 'Edit Links' or 'Workbook Links', selecting the source file in the list, and clicking 'Update Values'.

Does moving a file in SharePoint break Excel links?

Yes. If you move or rename a source workbook in SharePoint without both files being open simultaneously, the absolute URL changes and the destination workbook will display a server or file not found error until you update the source path.