EDITED: This works with your sample text:
@echo off
>"newfile.txt" echo PAYMENT TOTAL: CHECK/EFT NUMBER: PAYMENT DATE: RUN DATE: PAYERS: PAYER: PAY:
setlocal enabledelayedexpansion
for /f "tokens=1,2,3,4,12" %%a in (pcplus.txt) do (
if defined check_eft_number (
>>"newfile.txt" echo !payment_total! !check_eft_number! !payment_date! !run_date! !payers! !payer! !pay!
set payment_total=
set check_eft_number=
set payment_date=
set run_date=
set payers=
set payer=
set pay=
)
if "%%b"=="DATE:" set payment_date=%%c& set run_date=%%e
if "%%c"=="ELECTRONIC" set pay=%%b& set payers=%%a %%b
if "%%a"=="GPO" set payer=%%d
if "%%b"=="TOTAL:" set payment_total=%%c
if "%%b"=="NUMBER:" set check_eft_number=%%c
)
PAYMENT TOTAL: CHECK/EFT NUMBER: PAYMENT DATE: RUN DATE: PAYERS: PAYER: PAY:
21115.36 0000011331111 06/19/13 06/20/13 EMPIRS CC EMPIR CC
11189.01 0000011221111 06/19/13 06/20/13 HPPPPP HP HPPPP HP
16.18 0000011341111 06/18/13 06/20/13 APPPPA AP APPPP AP
1188.00 0000011441111 06/19/13 06/20/13 EMPIRS CC EMPIR CC
12130.17 0000011541111 06/17/13 06/20/13 EMPIRS CC EMPIR CC
2102.22 0000016411111 06/16/13 06/20/13 APPPPP AP APPPP AP