Forum Discussion

ReneeHansen1's avatar
Qrew Cadet
3 months ago

Formula Help

I need to calculate a couple of things for the cost of a resource

The first year costs, but each "start date" is different. and the year end needs to be 12-31-[whatever year the start date year is].

I have requested start date, # of months they're needed.
So for instance if a resource is requested to start on April 1, 2024, and they're needed for 60 months, and they're monthly costs are $1,000
What is the end date, if they start on April 1st and are needed for 60 days?
What is the cost for that first year if they start on April 1st and go to the end of the year (of whatever their start year was)


I also need a formula for 

Renee Hansen

1 Reply

  • So for the end date, you can do a simple adjustMonth like: 

    End Date = AdjustMonth([Start Date],[Term])

    For the first year Cost - do you have to account for a partial month? If everyone will have a start date of the first of the month you can do something like: 

    12 - Month([Start Date]) + 1

    IE 12 - 4 (for April) + 1 = 9 Months to pay for the first year. 

    Then multiply that by the monthly rate. If you have partial months, you'll need to evaluate the number of work days in that month and divide that into your monthly rate to get a partial rate for that specific month in question. 

    Chayce Duncan