@Chen_W_hsu
Maybe this...
If you are copying the formula across the columns...
=IF(COUNTBLANK(OFFSET('Prelims & Lien Waivers Revised'!$BU2,,(COLUMNS($BU2:BU2)-1)*6)),"Missing Monthly Paper Work","Payment Released")
If you are copying the formula down the rows...
=IF(COUNTBLANK(OFFSET('Prelims & Lien Waivers Revised'!BU$2,,(ROWS(BU$2:BU2)-1)*6)),"Missing Monthly Paper Work","Payment Released")