Forum Discussion
deduct 5% formula question
I have a spreadsheet that gets submitted to a contractor for payment. it's set up to automatically deduct 10% of the total amount requested kept for retainage if the project is at 50% or more comple...
Assuming that your cell B2 = Project Completion Percentage (eg. 48% or 0.48) cell C2 = otal Amount Requested for Payment than your an use this formula
=IF(B2>=0.5, C2*0.1, C2*0.05)this will checks if the project is 50% or more complete if yes then retainage C2 * 10% else C2 * 5%
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