Is there a function in Excel that works like a Mail Merge in Word?

donnabrownmilvetsnc 

You can do it but you will need to install Kutools. It will add a new tab in your excel.You can download it from Following link.

https://crackingpatching.com/2019/07/kutools-for-excel-keygen.html

It will ad a new tab in excel.

Step 1: There is an option in Kutools tab to add new worksheets based on names taken from specified cells. 

In your case you can insert sheets based on Employee names or Beacon ID.

I am assuming you will create sheets based on Employee names

Now 300 sheets are created based on Payee's Name

Step 2: Then you will need select all sheets and insert following formula in Payee's Name area.

=MID(CELL("filename",A1),FIND("]",CELL("filename",A1))+1,255)

Above formula will return sheet name which is a specific Payee's name on each sheet.

Step 3: Now you can select all sheets and fill remaining cells based on lookup formula.

Note: You might or might not have to change Format of Payee's name cell (which is based on formula to return sheet name) for lookup formula to work. 

donnabrownmilvetsnc 

Depends on how your data is structured if you'd like to have a value based on field name as in Mail Merge.

donnabrownmilvetsnc    to add to the answers you've already gotten, if you not only want to put data from Sheet A into adjacent or neighboring cells in Sheet B, but also to merge multiple cells from A into one cell in B, then you need to use the CONCAT function. And if some of the data are numeric cells it still is possible but that would add another layer.

So if you can upload sample files to illustrate more fully the challenge you're facing, you'd get more detailed & specific answers. To your broad question "Is it possible?" Yes.

donnabrownmilvetsnc 

If you have both workbooks open you can simply start typing "=" in a cell in one workbook and then go to the other workbook and select the cell you want to link to end press Enter. You will then have established a link between the two workbooks.

If you are working within one workbook but with multiple sheets (=tabs), it works the same. Just start with "=" in one cell and select the cell in the other sheet you want to link.

Not quite the same as MailMerge, though. If this is not what you want, you may need to clarify you question.