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Formula that will copy data from one custom object field to another?

Hello. I am trying to figure out a way to copy/clone data from one object to another and was wondering if this is possible with a formula?  We have a custom app for billing and I need to input all of our clients e-mail addresses in the respective field for that object. Each of the 'billing accounts' is linked to the Salesforce account + contact objects and the clients e-mail is in the contact object.  Is there a formula that can be created to match/link the billing account to contact and copy the data across? Any help or other advice is greatly appreciated. Thank you!