VLookup Formula Returning "Close Match" Not Exact

Reviewing the argument list for VLOOKUP reveals that there is an argument at the end of the list call "Close match":

Here is the details about VLOOKUP:

The VLOOKUP function returns a value from a collection of columns by using the left column of values to pick a row and a column number to pick a column in that row.

VLOOKUP(search-for, columns-range, return-column, close-match)

• search-for: The value to find. search-value can contain any value.
• columns-range: A collection of cells. columns-range must contain a reference to a single range of cells, which may contain any values.
• return-column: A number value that specifies the relative column number of the cell from which to return the value. The leftmost column in the collection is column 1.
• close-match: An optional modal valuethat determines whether an exact match is required.
  • close match (TRUE, 1, or omitted): If there’s no exact match, select the row with the largest left-column value that is less than or equal to the search value. If you use close match, you can’t use wildcards in search-for.
  • exact match (FALSE or 0): If there’s no exact match, returns an error. If you use exact match, you can use wildcards in search-for. You can use the wildcard ? (question mark) to represent one character, an * (asterisk) to represent multiple characters, and a ~ (tilde) to specify that the following character should be matched rather than used as a wildcard.

Here is your formula:

=IFERROR(VLOOKUP(A7,Sheet2::Table 1::A:AF,14),"")

So you have omitted the last argument which give VLOOKUP guidance how to behave in such situations.

Change your formula to:

=IFERROR(VLOOKUP(A7,Sheet2::Table 1::A:AF,14, FALSE),"NOT FOUND")

this will now report when an exact match is not found. IF you just want the cell empty on no exact match, then change the formula to:

=IFERROR(VLOOKUP(A7,Sheet2::Table 1::A:AF,14, FALSE),"")