Hi @LRcrouse
yes, that's generally very easy possible. Let's say in Workbook-1 you enter the data and in Workbook-2 you want to have the link to the respective cell in Workbook-1:
The easiest way is to have both workbooks open, enter the = sign in A1 of Workbook-2 and then just click in the corresponding cell in Workbook-1. It will create the link for you.
Now let's say, later on you change the value in Workbook-1, save and close it. When you now open Workbook-2, it will notify you that there is a link to an external source:
Depending on your choice, it will update the value or not.
Just one word of warning:
External links might are risky. If you rename, move or delete the source file (= Workbook-1), the link will break and you will get errors when you update. Especially if you share your files with other people that do not have access to the Workbook-1, they also will get errors.