I am reconfiguring my budget spreadsheet and am having trouble with an IF formula.
I want to set up the base so that I can select if something is revenue or an expense, enter the dollar amount, and then in the next column over (Debits and Credits), it will automatically add a (-) negative to any item that is marked as an expense. Here is the formula I was using:
IF({Trans Type}=“Expense”,{Transaction Amount}*-1)&IF({Trans Type}=“Revenue”,{Transaction Amount}*1)
The formula is messing things up somehow because it won’t recognize the output as a number, and therefore will not let me format it as currency. Instead, it says: Your result type is not a number or a date. Formatting options are currently only available if your result type is a number or a date.
I want this column to be formatted as currency and show a running total. Can someone help?
Hey @Washington_Center!
Two things you’ll want to do here:
Firstly, in the configuration for your formula field, you’ll want to change the format of the value that the formula returns.
You can do that as shown below:
Next is the formula.
Here’s the formula that I tossed together using the field names that you provided:
IF(
AND(
{Trans Type},
{Transaction Amount}
),
IF(
{Trans Type} = "Expense",
VALUE(
"-" & {Transaction Amount}
),
{Transaction Amount}
)
)
Re. Running Total
The field summary feature could come in handy here.
See below:
Let me know if there’s something I’m missing, or if you have any additional questions.
