I have a text field that looks like this:

Statement Processed, balance of 1156.00 for invoice 3000010004-0001Statement Path - SP After Ins, Step - 3 Self Pay After Ins 1

The string is identical in all records, except the amount 1156.00 changes.

So I need to extract the amount in each record. I suspect I have to use variable in a custom formula, but stuck as to how to get that done. Anyone done something similar before?

Half way there. Using your formula, I get everything behind the amount stripped:

Statement Processed, balance of 1156.00

How do I strip what is to the left of the amount? The only thing I need left is:

1156.00

I know, I'm just a pain.....:-)

Forgot about the extractstring.  Do not use it very often.