The Template Validation tool provides the template builder with a high-level overview of calculation errors found throughout your Template.
Common errors identified include:
The calculation does not recognize the field name entered (most often this will be when a field name that is referenced in a calculation is changed)
A missing parameter in a current formula (for example, an IF function is missing a 3rd parameter)
A formula is saved with improper syntax
If the validator does detect formula errors in your template, the Template Validation tool will show just below your Template Name. Click on the tool to open a list of each error found throughout your template.
To investigate further, simply click on one of the errors and the properties panel for that field will open on the right. You can then edit that calculation to fix the displayed error. Once the error is fixed in the Calculation Builder and the formula is saved, the error will remove itself from the Template Validator.
Some formulas will still work even if there is a syntax error is shown.
For example, an IF function typically requires 3 parameters: If(condition, trueValue, falseValue). However, if the formula you have written only contains the Condition and trueValue, the formula will still execute properly. This is because it is assumed that without the falseValue, that parameter should result in a blank value.
The Calculation Builder and Template Validation tools will still report this formula as an error because it is not following the proper syntax for this function but they will not stop this function from executing as is.