Where and how to enter an Excel formula

[mdmackillop]

While it may not aid understanding so much, the simplest way to deal with complex formula is to remove the inital "=" sign and then record a macro inserting it. In this case I get

 
Sub Macro1()
    ' Macro1 Macro
    ActiveCell.FormulaR1C1 = _
    "=IF(R[5]C[-3]<>"""",""Returned"",IF(AND(TODAY()>=R[5]C[-5]+8,R[5]C[-3]=""""),""Require Chasing"",""No Action Required""))"
    Range("H10").Select
End Sub

You can then see how the references etc. are created, and modify them to suit.