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I am trying to create new column named (Qty Sum) in formula tool but at the same time adding the value of new column(Qty Sum) with another column value (Qty), basis on column named (Model Number), I have attached screenshot, please share you suggestion, how this could be achieved.
yes you can use a newly created field in a formula just add one "block" to the formula and it will work. In your example, I see that you make reference to the previous line, so I would advise you to use a multi-row formula allowing you to do this kind of tricks but you may need to use 2 multi-row or one + a formula tool, depending on what you want to achieve.