Excel 2007 : SUMIFS function & #VALUE error

Hello,

I need some help before I go crazy. I am using the SUMIFS function to pull in some data from another file. Now when both files are open the formula works as intended. When I close both files then open the one with the formula (reports) and enable the updated links, the formula results in a #VALUE!. If I open the other file (master) then the formula works. I have no idea what’s going on. The criteria range and sum range are in the master file while the criteria is in the reports file same as the formula. Any ideas??

I have attached some dummy files for reference. The formula is in the reports file cell C8. Thanks