Parsing Text File And Inserting Into DB

Hello all,

I have a question regarding importing text file data into SQL Server.  I'm hoping someone can point me in the right direction, as my searches haven't turned up anything specific enough.

I'm trying to parse a large (24MB) text file.  It's a fixed-width file, with multiple columns.  I need to parse this file, check if a record already exists, and then import the data into the database.  But I don't need to insert every column.  There's only a few columns from the file I need to insert.  This parsing also needs to occur at regular intervals (daily).

I looked at BULK INSERT, but I can't find an example that uses only some of the columns.  Every example uses all columns, and the file is delimited, not fixed-width.

Is there anything within SQL Server that can accomplish this?  I haven't turned up anything that will solve my problem.  The only other solution I can think of is an application that parses the file for me and inserts the data into the database.  But can I schedule that application to run every night at midnight (for example) through SQL Server?

I'm not too familiar with SQL Server, so I appreciate any help offered.

Thanks,
Jay