summary of losses by machine by month

I am fairly new to excel but learning quickly and having a blast. I am stuck on a database that is becoming a lot more complex and confusing every time i open it. As of right now i am going to take it one step at a time. the first thing i was hoping someone could help me with is this:
I have 2 columns. Column A is "Machine", Column B is "Loss"
From there, there is a list of machines and their losses for a given month. Each month has its own report of machines and losses. Some machines may be on the first report. And possibly no losses in the second month making in absent on the second report.
What i am trying to set up a formula or macro to automatically updated a TOTAL list, that will automatically list every machine that has ever been on any of these reports, and keeping the highest loss for that machine. For example if machine Z had a loss of $100 in the first report, and a loss of $500 in the second report, then the TOTAL list would have machine Z at a loss of $500.
What i have been thinking is a macro that takes both reports and combines them, then grouping the duplicate rows of machines together and somehow deleting the duplicate row witht he lower loss?

Please if someone could help me out or point me in a general direction i would greatly appreciate it
thanks in advanced JON.

Hi and welcome to the forum

(I updated your thread title for you, in future, please use something that more accurately describes your problem)

Here is my suggestion for you.

1st, create a table with months across the top and machines down the side.
2nd take a look at the sumifS() function. It will add up all the data for a specific machine for a specific month - make sure your months are actually moths, and not just text, it often makes things easier

If you have made a start and have a problem with the sumifS(), upload a (clean) sample and I will help you with it
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