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Excel templates can save time in designing, setting up, and standardizing forms and reports. There are numerous free templates available for all Excel users, compatible with both the Excel desktop app and Excel online. The video tutorial shows how to find and set up these templates. In the Excel desktop app, access the free templates via the File tab and then New. You can browse by categories or type in a specific search term, like "tracker templates." Clicking on a thumbnail provides more details about the template, including its developer. Once you select a desired template, click on the "Create" button to download it.