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Excel templates save time in designing, setting up, and standardizing forms and reports. Hundreds of free templates are available for all Excel users, functioning in both the desktop app and Excel online. The video tutorial explains how to find and create your own templates in the Excel desktop app, emphasizing the need for an internet connection. To access free Excel templates, go to the File tab and select "New." Users can browse by categories or use the search bar for specific terms, such as "tracker templates." Clicking on a template thumbnail provides more details, and users can scroll through additional options. To download a chosen template, click on the "Create" button.