The best way of using an Excel file in SharePoint is to create a List from the Excel file (standard option when creating a list).
However then you should abandon your Excel file completely and use only the web-based List because there is no connection between the two.
If you want tables to be linked to a client system, use SP with Access 2007. Then there are several creation options (starting from Acccess or from SP) which allow linking between a List and an Access table and which include syncing.
P.S. I'm moving this to the General forum. I presume from your text that you are not interested in a programming version
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