Yep, sorry it was my first time on here. I feel like a dip now. The original
question is below.

I am trying to figure out a formula that will automatically figure retainage
for pay applications. We keep 10% retainage until we reach 50% of the total
construction cost. After that they are totally retained. My spreadsheet is
set of to retain 10% already. How can I have it check the total contracted
amount and quit removing 10% once retainage has reached 50% of the total
contract amount?
I am using excel 2003.
We usually get billed monthly for six months.



Project Total=600,000 (H35)
E36 F36 G36 H36
Current Payment Retainage Paid Running balance
100,000.00 $10,000.00 90,000.00 510,000.00

=IF(H3650%*H35,10%*E36,0) This appears to work, would using .5 be better?





--
Darrel


"David Biddulph" wrote:

An alternative way of expressing your formula is =(H3650%*H35)*10%*E36

We don't know whether it's the correct answer to whatever original question
may have been asked, because you've started a new thread rather than
replying to the relevant previous thread.
--
David Biddulph

"Darrel" (donotspam) wrote in message
...
=IF(H3650%*H35,10%*E36,0)

I think I figured it out. Is their a better way to do this?

Thanks! Fred
--
Darrel