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Default Lookup cell for documents in a folder

I am trying to create an overview of the time spent on projects. People hand
in weekly time-charts in excel format where the projects are referenced by a
standard number. So in effect I have a lot of separate excel files from which
I would like to create a summary, which also updates when a new file is added
to the folder.
I have no idea if this is possible and if it is, how one should accomplish
it. Can anyone help?
 
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