Iferror is new function in MS Excel 2010 to make life
simple. It works as:
= IFERROR(value,
value_if_error)
See it's use with vlookup below:
=Iferror(vlookup(A1,Sheet2!A1:C60, 3,False),”Not Found”)
In this formula, if vlookup returns error because value is
not found, instead of returning #N/A, it will return “Not Found”.