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Help with working on Office documents (word Excel) in Office 365

Before committing to "the cloud", I need to know if it is possible to work on a single word or excel document at the same time with Office 365. I have tried syncing two sites with Dropbox and end up with conflicts but want the functionality that users within network would have i.e. one can open the document to edit, the other gets a warning that user x has the file open and you can only Read Only.

Tried with Google Apps and ended up losing half a day's work in an Excel document!
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mbsnet
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mbsnet
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RamanhpCommented:
its possible only in case of a excel file , condition is that you should use the option "Share workbook".

Here, you may be able to work simultaneously on the same file.

provided, the two or multiple users work on different ranges
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mbsnetAuthor Commented:
For online editing via the browser, it is possible providing one user only is editing in the desktop. You can still open the document on another desktop and change both.

Having done more research I am considering using Google Docs with an app called OffiSync which puts an extra ribbon in the toolbar of Word and Excel and allows collaboration using Google Docs, without needing to convert the documents to Google format.
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mbsnetAuthor Commented:
Closed as I found the answer myself. No points awarded to replier as solution was not totally accurate.
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