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I'm trying to create a column that displays a platform fee for sales to specific buyers. One buyer is a flat percentage of revenue (8%) plus a specific dollar ($20) amount while another buyer is just a flat percentage (6%).
I agree with the syntax of the solution above, but that formula would give you 80% +20 and 60% respectively.
IF [Buyer Name] = "Buyer 1" then (0.08 * [Revenue]) +20 Elseif [Buyer Name] = "Buyer 2" then (0.06) * [Revenue] Else 0 Endif
Essentially, the formula is saying if the Buyer Name is Buyer 1, then use 8% of revenue + 20. If the Buyer Name is Buyer 2, then use 6% of revenue. If the Buyer Name is not Buyer 1 or Buyer 2 (essentially your catchall for the rest of the records), use 0.
Also, ensure you change the data type at the bottom of the formula to a numeric field type like Double. The default is a string (text) value.