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Default to word or not to word

I have a list of about eight people who do voluntary work, Every three months
they are reimbursed for activities. I have a spreadsheet with a record of
these recording name,date and activity. The members are paid in vouchers with
an attached invoice with the dates and activities undertaken. My question is:
is it better to use Word and Mailmerge or Excel. Any and variable numbers of
members are involved and any number from one to about fifty activities. Would
I need fifty fields to use Mailmerge or is there a way to generate individual
invoices in Excel.
 
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