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PProkes I'm not sure what would be wrong with my formula below... depending on what picklist is chosen, certain fields should be added or subtracted. In the example below, some real field names are replaced with Fields A & B.
IF ( ISPICKVAL ( Paid_Advance_or_Arrears__c ,"Advance",Field A + Field B ), AND (
IF ( ISPICKVAL ( Paid_Advance_or_Arrears__c ,"Arrears",Field A - Field B ))))
Please try the following:
IF ( ISPICKVAL ( Paid_Advance_or_Arrears__c ,"Advance"),Field A + Field B, IF ( ISPICKVAL ( Paid_Advance_or_Arrears__c ,"Arrears"),Field A - Field B, 0 ) )
In case of both the codition failure result will be 0. You can update the formula as per your requirement.