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In this video tutorial, the presenter demonstrates how to create an interactive drop-down list in Microsoft Excel that automatically populates text in other parts of a form. The process involves using a vlookup formula and linking the invoice to a vendor contact list to pull in the vendor's mailing address and contact information. By selecting a vendor from the drop-down list, the corresponding information will populate on the invoice, allowing you to easily print and save it as a PDF to send to the vendor. The tutorial breaks down the steps to set up this feature, making it a simple and straightforward process.