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Calculate 10% up to a specific total amount is reached and then stop

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    Calculate 10% up to a specific total amount is reached and then stop

    Hello. I work in construction and monthly I will prepare a billing based off an amount or percentage completed on the project. On each project we will hold a Retainage amount for each line item on the project. That percentage held will either be 5% or 10% of the amount completed that month and will stop once the line is 100% complete billed. However, we have a few projects where once the total contract amount is billed at 50% then the Retainage percentage being held will go from 10% to 0% or it will reduce down from 10% to 5%. What formula can I write in each Retainage line that will tell it to calculate 10% up to a specific total amount is reached and then stop and no longer calculate that Retainage?

    Example:
    Project Contract Total is $550,000, Retainage held is 10% until 50% of job is complete and then Retainage will be 0%.
    $550,000/2=$275,000 (This is 50% of the contract amount)
    Retainage Max = 275,000*.10 = $27,500
    After the total from each line item reaches $27,500 total, the retainage then moves to 0% and only $27,500 is held on the project until project is complete.

    Any help is appreciated. I know this sounds confusing so I hope I explained it well. Thanks!
    Last edited by 6StringJazzer; 06-24-2019 at 05:28 PM. Reason: "Formula" was not a good title

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    Re: Calculate 10% up to a specific total amount is reached and then stop

    Not quite sure I'm following how it goes from 10% to 5% then to 0%, but sometimes goes from 10% to 0%. This sounds like multiple scenarios. However, if you are just looking for a conditional check... then using an If statement will work.

    Something like this [insert your own cell ranges]:
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    Re: Calculate 10% up to a specific total amount is reached and then stop

    Most of our contracts we start out holding 10% Retainage of the whole contract amount. There will be times when the contract stipulates that when we have reached 50% completion, so when I have billed out 50% of the total contract amount, we can then bill for 5% of that Retainage and then from that point only continue to hold 5% for the remainder of the project. This one I can manually calculate. However my VP wants me to create the spreadsheet so that on the contracts where we hold 10% up until we have completed 50% of the contract amount and then we no longer hold anything in Retainage, except that initial 10% which is the retainage based off the 50% of contract amount. He wants each line that we have an amount on that ends up totaling the total contract amount to have a formula that stipulates that if we have billed 50% of the contract amount then the line will not calculate anymore retainage on each line. It will only hold the initial 10% of the amount we have billed for on each line. I have attached a snapshot of the current form and also attached the Excel file, so that maybe seeing it will help clarify what I am speaking about. Attachment 629605
    Attached Files Attached Files

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    Re: Calculate 10% up to a specific total amount is reached and then stop

    After the total from each line item reaches $27,500 total, the retainage then moves to 0% and only $27,500 is held on the project until project is complete
    .
    What does it mean?
    It would be great if you fill the table manually

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