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Excel templates save time on designing and standardizing forms and reports, with hundreds of free options available for all users. These templates are compatible with both the Excel desktop app and Excel online. The video tutorial demonstrates how to access these templates in the Excel desktop app by connecting to the internet. Users can find templates through the File tab under New, sorted by categories or using the search function. By entering terms like "tracker templates," users can view relevant templates, including details about the developer. To download a chosen template, simply click the Create button.