Formulas are Numeric Fields where the value of the field is automatically calculated based on values in other fields. Follow these steps to create a Formula
1. In Admin and then Folio Templates, select a Template and select the Fields tab. Click on + New Field and then 'Create a New Field'
2. Select Type as 'Numeric' and tick 'Formula enabled'
3. If the Formula is to appear on a table then select the 'Related Table'. If it is not in a table leave this setting blank.
4. The next step is to create your formula. You may the following mathematical operators:
- + to add
- - to subtract
- * to Multiply
- / to divide.
- () may be used to encapsulate your formula.
For example if you wanted to calculate the % Spent on a Contract you could use the following formula:
(Amount / Total Contract Value) * 100
5. You first need to enter the formula in a plain english format in the formula field and click the generate formula (the arrows in a circular shape) button. Folio will generate a set of labels representing the Formula.
Please note: You may use the actual field names when generating Formula labels but each label cannot have words repeated in them. For example, if you have two fields, "Total Contract Value excl GST" and "GST" and you want to work out "Total Contract Value incl GST", you cannot name this formula:
Total Contract Value excl GST + GST, (GST cannot be repeated in the label)
Instead, make the labels something like:
Total Contract Value + GST
Note that the two labels in the second example are totally different. You may simply call the two label a+b as well this will achieve the same outcome.
6. You must now select the appropriate field corresponding to each label.
7. If the formula include the sum of a column in a table, tick the box that says 'Sum?'
8. Folio provides you a sample in the sample data field.
What does the formula look like on a Folio. record?
1. Values in Formula fields are automatically calculated by Folio and cannot be edited by the user.
2. Click on the formula Icon to see the Formula.
