Nested IF formula returning "FALSE" instead of a numeric value

This is a very long formula and I don't have time to parse it out, but an IF statement returns FALSE if the logical test is FALSE but there is no Else part specified.

Formula:

=IF(A1=4, "Hi!")

If A1 = 5 this formula will return FALSE. You probably have the grandaddy version of that.

your 3rd IF statement has 4 arguments (from the looks of it) and the last 1 has 5, IF statements can only have 3. See how I have indented them to help it stand out?

IF($F12=0,
....IF(H$5-YEAR($C12)=0,
........IF(G12>0,
........(VLOOKUP(MONTH(C12),$Y$2:$AA$16,3,FALSE)-1)*H$9,
........MAX(0,H$8-SUM(H$10:H11))-((13-(VLOOKUP(MONTH(C12),$Y$2:$AA$16,3,FALSE))*H$9))),
............IF(H5-YEAR(C12)<0,
............0,
............MAX(0,H8-SUM(H10:H12),
............MIN(($H$8-SUM($G12:H12)),
............($F$12-SUM(H$10:H11)))))))

Will you please attach a SMALL sample Excel workbook (10-20 rows of data is usually enough)? Please don't attach a picture of one (no-one will want to re-type all your stuff before starting).

1. Make sure that your sample data are truly REPRESENTATIVE of your real data. The use of unrepresentative data is very frustrating and can lead to long delays in reaching a solution. Explain what you want the formula to do...

2. Make sure that your desired solution is also shown (mock up the results manually).

3. Make sure that all confidential information is removed first!!

4. Try to avoid using merged cells. They cause lots of problems!

Unfortunately the attachment icon doesn't work at the moment. So, to attach an Excel file you have to do the following: Just before posting, scroll down to Go Advanced and then scroll down to Manage Attachments. Now follow the instructions at the top of that screen.