Table Auto Entries

[AC5FF]

Is it possible to enter information into a table (either on a form or directly in a table itself) so that once you move to the next record or preferably move from one field in the table to the next; a separate field in the table is automatically filled based on a formula?

For Example - I am setting up a Renter database. When I go to the 'renter' table (form or table) I enter Last Name, First Name, Middle Initial. I would like a RenterID field to take the record number (Primary Key - Auto Number field), the Last Name (first2) First Name (First2) and Middle Initial for the entry.
As: John A Doe (record 12) would be: 12DoJoA in the RenterID field.

I'm certain I could do this with an update query, but I would like to do it on the fly as you are entering information into the table...

 

[AC5FF]

I thought maybe I had my answer. Instead of the form using the actual table, use a query to do the work. In practice this was working. My query uses all the fields of the table, but on the RenterID field I used an equation to fill in the information automatically like I was wanting to do.

As a regular query it was showing the data in the RenterID field as I wanted; but did not save into the table. All the other data did, just not this one field. So I changed the query type to Append - same thing is happening. The data all makes it into the table, just not the equation for RenterID....

Scratching my head good now! Good thing it is 5pm and quitting time at work!