merging excel files

I have two excel files one where there is already information about budgets with headings and figures and a file that has just the labels...im trying to make it so when i input the numbers from one file that they automatically are filled in the correct cells in the other file...is this possible? I understand you can do this from one sheet to another using a formula but im not sure if you can do it from file to file...any help would be appreciated thanks.

You can do this file to file. If you open both workbooks, then just
link to the appropriate cells by typing "=" and then selecting the
other workbook and clicking on the appropriate cell, press enter to
finish and you're done.

The name in the formulae bar will show the workbook name you are
linking to. If you then close the source file, the name in the formulae
bar will also include the full path to the closed spreadsheet. You will
be asked if you want to update links when you open the spreadsheet
containing cells with links.

Thanks stevie i appreciate your help very much.