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The method enabling you to check the compatibility of a workbook in Excel is through the "Check for Issues" option found in the info menu. This feature is designed to help users identify any potential compatibility issues that may arise when opening a workbook in earlier versions of Excel. By selecting this option, Excel runs a compatibility checker that scans the workbook for elements that may not be supported in previous versions and provides a detailed report.

This is crucial for users who need to share their workbooks with colleagues who may not have the latest version of Excel, thus ensuring that the shared documents retain their functionality and formatting. Utilizing this feature helps prevent issues that could lead to loss of data or formatting discrepancies after the file is shared or opened in an older version of the software.