I don't see the problem - maybe I'm not looking at it properly.

Book2.xls, Sheet1, cell C8 has "TEST" in it.

Book1.xls, Sheet1, cell A1 has formula =[Book2]Sheet1!$C$8 and displays TEST

on same sheet in Book1, at say H49, put formula
IF(A1="TEST",H81250/1250,"N/A")

or also in Book1, any sheet, any cell you could put:
=IF([Book2]Sheet1!$C$8="TEST,H81250/1250,"N/A")

But I see a (potential) problem with the reference H81250 - unless you are
using Excel 2007, that is an invalid row - rows in pre-Excel 2007 only go to
65536. It may be that if you fix that row reference it might work better for
you. You don't say what kind of error you are getting with it as it is.

"John Calder" wrote:

Hi

I have a link to another spreadsheet in a cell (C8) which returns a value
"TEST"

I want to use this value in another formula, in this case an IF statement.

Example

=IF(C8="TEST",H81250/1250,"N/A")

However i cant get the formulae to work because I suspect that even although
cell C8 returns a value of "TEST" that the formula is actually reading the
"link formula" which returns the result "TEST"

How do I get my formula to recognise the word "TEST" instead of the formula
that returns it?

Thanks in advance

John