Take a look at the attached and see if this meets your needs. There are notes in the worksheet and some cell comments.
There may be a few features I've used that you will have to read up on to understand. See this link for good tutorials and downloads.
Contextures
See this link for free basic
Excel Training
Changes made:
1. Insert column for name of payee and apply Data Validation (List option).
2. Created Dynamic Named Range for the payment database
3. Created a Pivot Table to summarize the payments and balance due.
4. Automated refresh of the Pivot Table using VBA.
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