You can update files by check out and check in. When you check out a file, the file is locked, and no other user will be able to upload a newer version (overwrite the file). When you check in the file, you will be prompted to upload a newer version to replace the original file. The file, after being checked in, will be available for other users to check out again. If you do not want to upload a new version, you can undo the check out.
Note: To enable or disable file updating, enable or disable Document Control in the Control Panel.
You can edit Microsoft Office files in Office Online. Users can work on the same document at the same time. See Update File in Office Online .
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