If Monday, roll back to Friday

Generic formula 

=IF(WEEKDAY(date)=2,date-3,date)

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Add business days to date

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Get first Monday before any date

Explanation

To check the weekday of a date, and roll back to Friday when the date is a Monday, you can use the IF and WEEKDAY functions. In the example shown, the formula in C5 is

=IF(WEEKDAY(B5)=2,B5-3,B5)

How this formula works

The WEEKDAY function returns a number, 1-7, that corresponds to particular days of the week. By default, WEEKDAY assumes a Sunday-based week, and assigns 1 to Sunday, 2 to Monday, and so on, with 7 assigned to Saturday.

In this case, we only want to take action if the date in question is Monday. To test, we use this expression inside the IF function:

WEEKDAY(B5)=2

If the logical expression returns TRUE, we know the date is a Monday, so we subtract 3 to "roll back" to Friday. If the expression returns FALSE, we simply return the original date.

If Monday, roll back to Friday

Generic formula 

=IF(WEEKDAY(date)=2,date-3,date)

Related formulas 

Add business days to date

Next business day 6 months in future

Get workdays between dates

Date is workday

Get first Monday before any date

Explanation

To check the weekday of a date, and roll back to Friday when the date is a Monday, you can use the IF and WEEKDAY functions. In the example shown, the formula in C5 is

=IF(WEEKDAY(B5)=2,B5-3,B5)

How this formula works

The WEEKDAY function returns a number, 1-7, that corresponds to particular days of the week. By default, WEEKDAY assumes a Sunday-based week, and assigns 1 to Sunday, 2 to Monday, and so on, with 7 assigned to Saturday.

In this case, we only want to take action if the date in question is Monday. To test, we use this expression inside the IF function:

WEEKDAY(B5)=2

If the logical expression returns TRUE, we know the date is a Monday, so we subtract 3 to "roll back" to Friday. If the expression returns FALSE, we simply return the original date.