Sounds like you want:

=IF(AND(O5="",R5=""),"",IF(R5="",IF(Q5="",DAYS360( O5,TODAY()),DAYS360(O5,Q5)),IF(Q5="",DAYS360(R5,TO DAY()),DAYS360(R5,Q5)))

This will first verify if both your criteria cells are blank. If so, "",
else..
If R5 is blank (Thus, O5 is not), do the O5 IF. Otherwise, R5 must not be
blank, and per your statement, O5 is. So, do the same calculation, but with
R5 instead of o5.

"HeatherBelle" wrote:

I want the following to happen:
If O5 is blank, then P5 will be also (this much is done in the formula below)
If O5 has a date, then the below function will be done (also done)
If Q5 gets populated, then the function will stop (also done)
However, I want to now add something that will perform the same
function/situations in P5 if <bR5</b has a date (O5 and R5 will NOT both
have dates in them)

=IF(O5="","",IF(Q5="",DAYS360(O5,TODAY()),DAYS360( O5,Q5)))