Whenever a change is made to a document stored on OneDrive, a new version of the file is automatically created. OneDrive’s Version history feature allows you to view older versions of an Office Online document. If you find a version you want, you can then restore it, moving it to the top of the list as the latest version of the file.
To view the version history of a file, click on the ellipsis that corresponds with the desired file OR right-click on the file.
The Version History window will open, displaying all versions of the file.
Clicking on the Modified date will open up that version of the file in its application (e.g. Excel files will open up in Excel).
If you’d like to restore a previous version (effectively making it the current version of the file), hover over the Modified date and click on the drop down arrow. Select Restore from the menu. You’ll be asked to confirm the restoration of the previous version.
A new version of the file will be created.
Please note: anyone you share a file with can access its version history, but those without editing permissions will not be able to do more than view previous versions.