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Can you do summation in a workflow?

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Is it possible to do a summation in a workflow?

For example, 

The workflow purpose is

if A= B 

then go update the Contact Record : 

Update contact owing amount = Contact owing amount + Previous owing amount = Updated Owing amount

Where can I do summations? I know Business Rules and calculated fields allow me to do that. Yet if i set up a business rule for Contact Owing Amount it will always add the previous Owing amount. How do you suggest I go about this that when i run a workflow, go and update my field ( + amount from another field)

is that even possible?

Thank you

E


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