Money format in cell not working

Daniel Thornton

I am using this formula to output a fee based on gross loss for insurance claim.  The resulting total column shows proper dollar format when it is over $100,000 based on first IF statement.  When it is either of the following IF statements, ie for losses > 500, or losses > than 0, then the "TOTAL" cell shows a dollar sign but is missing the coma at the thousand point, and the 2 zeros after the decimal point is not there either.

 

=IF([GROSS LOSS]2 > 100000, 0.024 * [GROSS LOSS]2, IF([GROSS LOSS]2 > 500, "290", IF([GROSS LOSS]2 > 0, "148")))

 

Thank you in advance for any ideas to help correct this!

 

Travis

Daniel - when you use quotes in a formula, the resulting value will be formatted as text, regardless of the content. This means “148” and “290” are seen as text values and not numbers and will not adhere to your currency format. Try removing the quotes from your formula and see if the resulting value is shown as currency.