Import and live streaming

Hello,

Just started my first internship and I have never used power BI. I need to gather data from one excel, slice it and manipulate it a bit, then import it to another excel file. I need it to update live or as close as live as possible. I am wondering if that is possible and if so how do I do it. I need help on slicing as well. So the first excel file is the financial statments and I need to seperate the type of expenses and sum the different type of expenses. So I will have 5 different sums. I will then put these sums into a cell of a different excel file that has the other financial sums of past monthes and years. I was wondering if I changed the expenses on the first excel if it will change on the last excel as well. Still trying to just get the basics down but I want to know if what I want to do is even possible. 

Thanks,

John