Kelly L. Williams, CPA, Ph.D., explains how to use XLOOKUP, a new function for Excel 365 users that essentially replaces VLOOKUP and HLOOKUP.

Microsoft Excel's new dynamic array functions make complex calculations easier than ever before. Image: PixieMe/Shutterstock Microsoft 365 updates the way Excel handles dynamic functions.

You probably use VLOOKUP() function to find exact matches in Microsoft Excel, but you can also find the closest value when you don't know the exact value.