Crystal Reports using IF ELSE to separate data in a field

Message

     I have a field {COST} that has both negative and positive numbers.  I would like to separate that field into two columns - DEBIT and CREDIT.  I'm guessing I can use an IF/ELSE statement such as 
IF {COST} <0 then {CREDIT} ELSE {DEBIT}

Is it possible to take data from a field and sort it out this way?  Would I need to set up two fields in my View first called Credit and Debit to store the data?

Thanks for the help!