VLOOKUP Basics: Step-by-Step Guide

VLOOKUP is an excellent tool for auditors to find information hidden in large data sets. But sometimes getting it to work is a challenge in itself

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Let’s dive into the world of VLOOKUP in Excel. It’s a powerful function for looking up values in a table based on different criteria. Whether you’re a beginner or just need a refresher, we’ve got you covered.

  1. Syntax:

    • The VLOOKUP function has the following syntax:

      =VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

  2. Arguments:

    • lookup_value: The value you want to look up (e.g., product name, ID, etc.).

    • table_array: The range of data where you want to search (your table).

    • col_index_num: The column number from which you want to retrieve data.

    • [range_lookup]: Optional. Set to TRUE for an approximate match or FALSE for an exact match.

  3. Exact Match Example:

    • Suppose you have a table with product IDs, names, and salaries.

    • To find the last name of the employee with ID 79, use:

      =VLOOKUP(79, red_table, 3, FALSE)

    • It will return the last name associated with ID 79.

  4. Approximate Match Example:

    • Imagine you’re looking for a value (e.g., 85) that isn’t exact.

    • Use:

      =VLOOKUP(85, red_table, 2, TRUE)

    • It will return the largest value smaller than 85 (e.g., 80).

  5. VLOOKUP Looks Right:

    • VLOOKUP always looks up in the leftmost column and returns a corresponding value from a column to the right.

    • For example, you can look up first names and return last names or salaries.

  6. Handling Duplicates:

    • If your leftmost column contains duplicates, VLOOKUP matches the first instance.

    • Be aware of this behaviour when dealing with duplicate values.

  7. Partial Matches:

    • VLOOKUP supports wildcards for partial matches.

    • Useful when you’re dealing with variations of a value (e.g., “Lollipops” vs. “Lollipop”).

Remember, practice makes perfect! Feel free to explore more examples and play around with VLOOKUP. If you prefer visual learning, check out this VLOOKUP tutorial video for step-by-step explanations. Happy Excel-ing!