The Formula Column - Explanation and Use Cases

Missing the Excel formula and mathematic capabilities? Not to worry! We came up with the formula column just for this. This column allows you to make calculations with other columns. It goes from simple mathematical equation to more complex functions and formulas. 

How to add it?

To add it, click on the + icon located on the top right of your board and select "column center".

Column_center.png

Once in the center, select the option "Formula" as in the screenshot below:

Screen_Shot_2018-07-05_at_12.34.51.png

Once your column added, click inside the column to add your formula. 

formula.gif

 

 Note: The formula column is only available for the Pro and Enterprise plan. If you were on a Pro plan and downgraded your account, the formula columns you have created will remain intact, but you will not be able to add more formula columns.

 

Can I add a unit for my formula?

Yes you can 😊. You can add any unit before or after your formula. Here is how it works:

  • If you want your unit (let's say USD) to show after your formula, input your formula and then add & "$"
  • If you want your unit (let's say USD) to show before your formula, start with "$" & and then add your formula. 

 

 Tip: The quotes around your unit are super important and a part of the formula. Don't forget them!

Can I format my formula?

You can format your result exactly the way you want it to look like by using the formula TEXT. Let's take an easy example: I have want to multiply 10 by 1250 and I want my number to show the following way: $12,500.00.

 Formula: TEXT(MULTIPLY({Deals},{Amount}),"$#,##.00")

 

 Screen_Shot_2018-08-22_at_10.02.52.png

Each # represents a number. I have added .00 by the end because I want my formula to end by .00 but you can replace this by .## if you want your number to end with proper numbers. 

Can I add a sum at the bottom of my formula column? [COMING SOON]

Yes you can! Exactly like for the numbers column, you can see the overall calculation for each group. 

Screen_Shot_2018-10-04_at_11.14.41.png

By clicking on this box, you will also be able to change the unit and the function as below:

Screen_Shot_2018-10-04_at_11.19.54.png

 Note: The total only takes into account numeric values. If your column has both numeric and text values, we will only count the numeric values. Mixed values like Lea123 will not be taken into account in the total. If all values are non-numeric, you will get N/A at the bottom as in the screenshot below. 

 

image.png

Calculate the monthly commissions of each sales representative

In this example, I want to calculate the total amount of commission made per employee per month in £.

 Formula: ({Deals}*({%Commission}/100))&"£"

 

large-Screen_Shot_2018-06-20_at_10.32.11.png

Calculate the monthly commissions with conditions

Calculate if your employees are entitled to get a bonus. An employee can get a bonus only IF the "total sales" is higher than $350,000 AND IF the amount of deals is higher than 12. 

 Formula: IF(AND({Total Sales}>350000,{Deals}>12),"$250","$0") 

 

large-Screen_Shot_2018-06-20_at_11.53.38.png

Calculate the monthly change % between two values

I want to calculate the monthly change between the results of January and February. 

 Formula: (MINUS({February Total Sales},{January Total Sales}))/{January Total Sales}

large-Screen_Shot_2018-06-20_at_10.55.33.png

Calculate the roll-over budget

Calculate the rollover budget (planned cost vs. actual cost) to see how much money you have left for a project.

 Formula: (MINUS({Planned Cost},{Actual Cost}) & "$"

 large-Screen_Shot_2018-06-20_at_13.43.30.png

Calculate the total expenses of a project

We are sending some of our employees to our NYC office and have a few expenses to take into consideration: the flights, the insurance, the hotel and the food expenses. 

 Formula: SUM({Flight},{Hotel},{Insurance},{Expenses}) & "$"

large-Screen_Shot_2018-06-20_at_14.09.53.png

Find if your total expenses are over budget or in budget

My budget is $6500 per employee. I want to find out if the total amount I spent for each employee is in the budget or over it. 

 Formula: IF((SUM({Flight},{Hotel},{Insurance},{Expenses}))>6500, "Over Budget","Good")

 Screen_Shot_2018-06-21_at_20.18.35.png

Calculate a risk map for your investments

Create a risk map to estimate if an investment is high risk, medium risk or low risk. For that we need two data: the risk impact and the probability of the event happening. You can then add a status column to categorize each type of investment.

 Formula: MULTIPLY(({Risk Impact}*{Probability})/100) 

 large-Screen_Shot_2018-06-20_at_15.07.28.png

Calculate the average between several number columns

In this example, we want to calculate the average of the grades for the last 4 weeks

 Formula: AVERAGE({Week 1},{Week 2},{Week 3},{Week 4})

Screen_Shot_2018-06-21_at_9.58.31.png

Get a value based on several conditions 

If the student got 80 or more at his test, the result is "Excellent". If the result is above 50, it is "good". If it is above 30, you"can do better". If the result is below 30, then it is "terrible".

 Formula: IF({Exam Score}>80,"Excellent",IF({Exam Score}>50,"Good",IF({Exam Score}>30,"Can do Better","Terrible")))

 large-Screen_Shot_2018-06-20_at_13.20.24.png

Cost calculation of a project

I want to calculate the cost to perform a task based on the fee per hour and the total amount of hours

 Formula: MULTIPLY({Number of hours},{Rate per hour}) & "$"

  Screen_Shot_2018-06-21_at_11.12.03.png

Calculate the profit margin

To calculate the profit margin of each of your project, you need three data: the revenue, the cost and the profit. From there, you apply the following formula:

 Formula: ROUND({Profit}/{Revenue}*100, 1)

 Screen_Shot_2018-06-21_at_12.23.39.png

Keep Track of your inventory

You can easily manage your inventory with monday.com. This example explains you how to calculate your current available stock and how much were sold in percentage.

 Formula: MINUS({Purchased},{Reserved},{Sold})

 

 Formula: ROUND({Sold}/{Purchased}*100,2) & "%"

 

Screen_Shot_2018-06-24_at_12.08.27.png

Keep Track of your shipments

This simple formula allows you to keep track of your shipments and easily find out if they are good to go in transit. There are a few options to calculate it but the most frequently used one is the following: 

 Formula: (MULTIPLY((Hight),(Length),(Width)))/6000

Screen_Shot_2018-06-28_at_10.28.17.png

Get the number of days between two dates

 Formula: DAYS({Due Date},{Start Date})

large-Screen_Shot_2018-07-10_at_16.20.07.png

Get the countdown between today and the due date of your project

I want to know how many days remain until the due date of my task. 

 Formula: "Remaining days: " & ROUND(DAYS({Due Date},TODAY()),0)

large-Screen_Shot_2018-07-10_at_16.14.19.png

Get a status according to the creation log of your tasks

In this example, I want to see if my bug is urgent or if it can wait. If the bug has been added more than 7 days ago, then it is urgent, if not, it can wait. 

 Formula: IF(DAYS(TODAY(),{Creation Log})>7,"Urgent check now","Can wait") 

 

large-Screen_Shot_2018-07-10_at_16.32.39.png

 

If you have any further questions about the formula column please don't hesitate to reach out to our customer success team at support@monday.com! We are here for you 24/7.