formula help

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New Contributor

what formula do you use to calculate.  received an retainer for a job, need to subtract time to equal money, to find cost of time to subtract from retainer continuously till retainer is zero but, continue to get new amount owed.  Hope this clear

 

1 Reply

@dianna1280 

 

Well, I think it's fair to say it's not totally clear. You've had 40 views and no replies, which tells us something.

 

So why don't you try with an example, ideally IN Excel--attach a copy of whatever spreadsheet you are trying to create. But if not that, write it out a bit more specifically.

Action                                                Balance

Receive a retainer of $1,000              1,000

Worked 10/1 for 3 hours -300             700

worked 10/3 for 2 hours -200             500

traveled 10 miles            -10*.53 (or whatever)

etc

 

What you're describing isn't likely to be difficult, but it needs to be described a bit more clearly unless you just want us to guess. If what I've done above is relatively accurate, let us know.

 

Another way to get started here: how do you handle this now, presumably on paper?