A formula field is a read-only field that allows one to perform calculations or generate values based on the data from other fields in a record. Formula fields can be used to automate data processing, enforce data consistency, and display calculated values without the need for manual data entry.
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open Home | Salesforce
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Click Gear icon and select setup from dropdown and click Next
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Click Object Manager to navigate to the objects in Salesforce
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In quick find box, type object name in which one wants to create a formula field and Click Next
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Click on the object
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Click on Fields & Relationships
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Click New button to create formula field
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Click on Formula data-type to select formula field
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Click Next
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Provide label to the field label(Field label will be generated automatically) and Click Next
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Click on the data type on which one wants to create it
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Click Next
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Click Advanced Formula
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Click Insert Field
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Select the field as per requirement and click Next
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Click Insert
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Click Insert Operator, insert the operators as per requirement and click Next
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Click Check Syntax
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If Necessary Select the required formula from Function Categories and Click Next
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Click Insert Selected Function
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Click Check Syntax and validate the formula
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Click Next
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Click Next
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Click Save
