Assistance with an IF statement

Apologies, Solved.

It returned expected results for me: I.e. I got a "Y" when I had something in P7 and a date in L7

but it can be shortened to: =IF(AND(P7<>"",L7<>"In Stock"),"Y","")

or avoid that formula column altogether and just use =AND(P7<>"",L7<>"In Stock") for your conditional format formula