There are times when you may want to upload and convert one of your current Office files so that you can share or work with colleagues on the document. You can upload and convert Office files directly into Google format so that you can share and collaborate or even publish. Below is a tutorial on how you can upload those files in the New version of Google Drive. Here is a link to a version for the Old Google Drive.
Google will upload and convert Word, Excel, and PowerPoint files.
Google will also convert so that you can download files back out of Google into other formats. That way you can send to people who need a specific format or don't have a Google Account (Boo!)
Give this a try!