V LOOK UP is one of the most important functions for finance people. It is very useful for analysis of large no. of data. And it is most expected question in an interview of accounts/finance manager.
In simple words this formula vertically looks up for a value in a given table.
Let us learn this with this example
This is the given table where we have two columns, one is for Name and Other is for Age. In reality you will find a long table with many no. of columns, but to make it is easy we learn with this simple example. Suppose we need to find out the value (AGE) for AMIT, DIVYA & PREM, that is given in second table.
The formula of V look up is = vlookup(lookup_value,Table_array,Col_index_num,Range_lookup)
Lookup_value is the cell for which we are finding the value, in our example it is cell “E2” since we are looking for value of AMIT.
Table_array is the range of table -1, in our example rage is A:B i.e select the full two columns.
Col_index_num is column from where we want the value i.e clumn 2 of table-1 in our example.
Range_lookup is True or Flase. If you choode Flase then it will give exact match and if you choose true then it will give nearest match. Generally we use “flase”.
You can click at fx in top of excel sheet, where we feed formula. A dialogue box, as you can see in the pic will get open to help you to put right values.
So in our example as you can see
V look up is equal to =vlookup(E2,A:B,2,FALSE)
The answer will come 56 for amit and you can drag the formula for others.
V look up is for vertical look up of values in columns and H Look up is for horizontal look up of values in rows.
so similarly we can use H look up function in a horizontal table to find out values.
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