Thank you, Olly.
Definetly assisted in parsing the individual portions of the "memo field"...above.
To the users out there the "1" at the end of the formula can be changed to 2...3...4...etc. This grabs the next instance after the space and parses that section.
In my example above:
12/11/2012 ABC 123 5,000.00 2,019.15 2,018.38 2,018.38
Each space is the START of the next parse/column.
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check them out...and let your boss know..