If I understood you correctly - it might be:
=IF(OR(E2="CASH02",E2=""),"ACTIVE","CLOSED")
Micky


"Bob" wrote:

In simple terms i am trying to say if the value in box E2 is "CASH02"
or the cell is empty then put "ACTIVE" otherwise put "CLOSED"

I have tried many permutations of

=if(E2 in ("CASH02", " "),"ACTIVE","CLOSED")

I would be grateful if somebody could please correct this. Thank you
.