Formulas for Budgets

Hey everyone, really hope someone can help me with Formulas because I am not getting it.

Here’s the layout: I have a board I am using for budgets with the following columns:
-Contract -Budget -Spent -Difference -Budget Status

Contract is the overall sum.
Budget is what we can work with.
Difference is obvious.
Budget Status- has four Status’ (Good, Over, Under, Close to Limit)

Is there a formula to make it so, let’s say, if difference goes below $1000, change status to Close to Limit.
Or
If Difference is more than budget, change status to Over?
And so on and so forth.

Thanks everyone!

Hello , from my experience,
if the result of the formula column is the status itself, you can do this.
if you expect to control a status column from a formula column, this cannot actually be done

Hey there!

Shelly here from monday.com :slight_smile:

While at the moment you cannot change a status column from a formulas column you can defiantly achieve what you’re looking for with our formulas!

So while you cannot change the status labels you can have the text displayed in the formula column itself!

Please take a look at this -->


This is the formula I created: IF({Difference}<1000, “Close to Limit”,IF({Difference}>{Budget},“Over”,{Difference}))

Hope that helps!

Shelly

1 Like

Hey Shelly, that makes total sense now, thank you!

However the new problem is that I am getting an “Illegal Formula” error in my formula column now when trying to add it.

Hey @Creative_Mamm_Al

Did you copy/paste Shelly’s formula? If so, can you try creating it by choosing from the column options presented in the formula setup box?

Yes, I’ve tried both of those options.

Can you send us a video to support@monday.com (use www.loom.com) and Shelly will take a look for you? :pray: