Compare Workbooks

Diff two workbooks end to end. Point ModelXcel Pro at any two files — a model you received and the one you sent, two scenarios, two analysts’ copies — and it matches their sheets, aligns shifted rows, and reports every value, formula, formatting, and structural change in one navigable results window.

What it does

Compare Workbooks takes two workbooks and produces a complete difference report. It is the default action of the Compare split button (and the first menu item). The comparison is read-only — neither source file is modified by the analysis itself.

Where to find it

ModelXcel Pro tab → Compare group → click the Compare button face, or open the dropdown and choose Compare Workbooks (keytip CO).

Step by step

  1. Run the command. The Select Workbooks dialog opens.
  2. Choose the first and second workbook. You can pick already-open workbooks or browse to files on disk; the two must be different.
  3. Optionally adjust the comparison settings offered on the dialog (tolerance, what to compare, alignment).
  4. A “Comparing Workbooks” progress window appears (cancellable). Cloud-hosted files are first resolved to a local copy; each workbook is opened if it isn’t already.
  5. The Comparison results window opens with every detected change, grouped and ranked.

How sheets are matched

Compare Workbooks pairs the two workbooks’ sheets by name:

  • Matched sheets — sheets that exist in both workbooks are compared cell by cell.
  • Removed / added sheets — a sheet present only in the first workbook is reported as removed; one present only in the second is reported as added.
  • Hidden sheets — skipped by default (the Ignore hidden sheets setting is on); turn it off to include them.

Because matching here is by name, a sheet that was renamed between the two files shows up as one removed sheet plus one added sheet rather than a matched pair. When you need to line up sheets whose names differ — or pair only a subset — use Compare Sheets, which suggests pairings with fuzzy name matching and lets you map sheet A to sheet B explicitly.

Within each matched pair, the engine applies smart row and column alignment before diffing, so an inserted or deleted row lines up the rest of the sheet instead of reporting every subsequent row as changed. Both workbooks are recalculated once before the comparison (unless you’ve enabled Skip recalculation).

Proof-ledger interaction

After the comparison, ModelXcel Pro checks whether any formula change lands inside a signed block in either workbook. If so, it appends a block-broken record to that workbook’s Proof & Trust ledger, back-referenced to this comparison. This is a no-op for workbooks that carry no signatures, and it is idempotent (a block already marked broken isn’t recorded again).

Example: reconciling two analysts’ copies

Two team members each edited a copy of the same model. Run Compare Workbooks on the two files. In the results, sort by impact and start with the formula changes rated High or Critical — those are the ones that move numbers. Use the in-grid highlights to mark the changed cells in one copy while you decide which edits to keep, then export an .xlsx record of the diff for the audit file.

Caveats

  • Sheets pair by name. Renamed sheets appear as added + removed here; pair them explicitly in Compare Sheets.
  • Hidden sheets are skipped by default. Change Ignore hidden sheets in settings to include them.
  • Recalculation. Both workbooks are recalculated before comparison unless Skip recalculation is on — leave it on only when you know both are already fully calculated.
  • It detects differences, not correctness. See the impact and Material Change Intelligence notes on the results and MCI pages.

The comparison is read-only; highlights are opt-in and persistent

Running a comparison changes nothing in either file. Only if you choose to highlight changes from the results window are cells colored — and those colors persist until you revert them (they are not stripped before save). See Comparison results.

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