Checking out files before working on them helps to avoid conflicts and confusion when multiple people are working on the same set of files. When a file is checked out to you, only you can make changes to it. You can check out any file on a SharePoint site for which you have permission, and you can check out files directly from the following 2007 Microsoft Office system programs: Word, Excel, PowerPoint, and Visio.
When you check in a file, you can type comments about the changes that you made to the file. This helps people to understand what has changed in the file from version to version. This is especially helpful if several people work on a file or if the file is likely to go through several revisions. If your library tracks versions of files, your comments become a part of the version history of the file, which can be helpful if people need to view or restore a previous version.
To enable Check In/Out:
- Check In/Out is enabled on a document library level
- Navigate to the Document library > Library Settings > Versioning Settings > Require Check Out > Yes
- This will force a document to be checked out before editing
- The other Options like “Draft item Security” will come into picture when other users try to access a checked out file.
- A file that is checked out will have a green Arrow on it.
Check a file in or out of a SharePoint library: https://support.office.com/en-US/article/Check-a-file-in-or-out-of-a-SharePoint-library-361EA6E1-41E8-49D3-842C-C26D79A2506F
Check out or check in files in a document library: https://support.office.com/en-US/article/Check-out-or-check-in-files-in-a-document-library-acce24cd-ab39-4fcf-9c4d-1ce3050dc602
Top questions about check out, check in, and versions: https://support.office.com/en-US/article/Top-questions-about-check-out-check-in-and-versions-7E941339-E972-4C7A-A79A-80A1FCF84076
SharePoint document libraries II: All about checkout (Course): https://support.office.com/en-US/article/SharePoint-document-libraries-II-All-about-checkout-b3d32396-bfe7-4d5b-a5bf-57e6d0bfdfcf