Best practices for opening a single document on sharepoint by multiple people

I have a shared document (excel) on our sharepoint portal.  I have this excel web access part on several pages ans want the ability to have people edit it simultaneously.

Is this even possible? Or can only one person check out or edit the file at a time?  Is there any other suggestion that you can think of to allow access to a file from different people at the same time or is that simply not possible?
jhuntinAsked:
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MontoyaProcess Improvement MgrCommented:
The only solution I can think of is to simply enable version control. However, if they are hitting that file at exactly the same time, and that is precisely what needs to happen, then even version control will not keep that from happening. All you can do is track changes from one doc to another, but the real way of safeguarding the integrity of a file is to lock it (which is why 'checking out a document' exists.

Is this for financial purposes? Meaning, is Excel the best medium for this? When multi-user access is required, I usually have to start thinking mySQL or similar solution, so transactional data and differences are 'built-in'.
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martushaProduct managerCommented:
multiple users can edit word documents in sharepoint 2010 with office word 2010.
Excel documents does not support this feature... If one is editing - other can only read (read-only mode) or save file as copy.
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