One method is to combine the FILTER() spreadsheet function with the Excel Table feature. NB. To do this, you'll need a recent version of Excel. Utilizing a Table adds some additional practical usefulness (such as automatically adding rows and allowing reference by column name).
The OP's input data may already be a Table, if so, this first step can be skipped.
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Put the input and filter list into tables. Excel help page. After the table has been created I have used the Table Design menu (which appears in the menu bar when a cell in the table is selected) to turn off the row banding format and header filters. This is also where you can rename the Tables. I have named them "Input" and "Exclude"
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For the filtered output, choose where you want the output to start (cell H3 in my example), and enter a formula to copy the headers: =Input[#Headers]. Of course you can copy and paste the headers manually if you like. Here I've used the Format Painter to copy across the cell formats for the headers.
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In the next cell down (H4 in my example), enter this formula: =FILTER(Input,(LEN(Input[ID])>0) * ISERROR(MATCH(Input[ID],Exclude[IDs to exclude],0))).
You should be able to add or delete new rows (right-click in the Table and choose Delete) in both the Input and Exclude tables, and the output should react (if you have Calculation set to Automatic).