Can a Worksheet Column be editable based on the value of another column?

Summary:

Can a Worksheet Column be editable based on the value of another column?

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We want to make a column in our merit worksheet read only if the value of another column is a certain value. The specifics are the column we want to make read only is a merit increase amount column if the performance rating is null. In another words if an employee's manager did not complete the manage evaluation of said employee than that employee can not get a merit increase via the merit worksheet. The employee must have a performance rating for merit availability. Is this possible?