Sleeper: Formula Help

Hi again

I have a sheet with around 30 columns and 2000 rows of data. I need to check column E to see if there is a value in in the same row in column T - then I need to check the value in column S and see if there is a match in any row in column Y. So, if E has a value and the same row in T is blank, AND the value in column S does not appear anywhere in column Y, then the result must be TRUE, otherwise it is FALSE.

I created the following formula

Code:

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=IF(AND(E2<>"",T2=""),NOT(ISNA(MATCH(S2,Y:Y,0))))

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This seems to work but then I wondered if it would be better to split it into 2 formulae

Code:

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=IF(AND(E3<>"",T3=""),"TRUE","FALSE")
=NOT(ISNA(MATCH(S3,Y:Y,0)))

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I'm really just looking to see if I have the single formula correct or do I need the 2 separate version or is there is a better way? (VBA is not an option here).

Thanks.