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This is related to my previous post:

Create a report that will display all contracts with six months remaining before their expiration dates

I've decided to post another one since that only focuses on contracts with 1 year (12 months) term. But challenge is that contract term may change based on the number of months inputted by the user (may be 4 months, 6 months, etc.).

That's why I am thinking of creating another formula field with checkbox return type that will serve as an indicator that a record has already reached half of its expiration date. Then use that field to filter easily to get my desired result.

But how will I construct my formula logic to get that?

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Your formula can be written as:

( 
(TODAY()-StartDate) /
(EndDate-StartDate) 
) >=0.5

The difference between two date fields is expressed as a value in days. We can therefore determine if we're half-way through the term by making a fraction. The numerator is the number of days that have advanced, while the denominator is the entire number of days of the contract.

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