I use Excel to do my Checking Account information and with in that I
have my transactions and next to that I have a code that says what it
is like Wendy's is FF(fast Food). I was wondering if Excel can take
these and then group them together and total them for me. ...

One way:
Data Pivot table report

If you haven't used pivot tables before, take a look at Excel's built-in
"Help" about them.