- The line of information in an Excel cell that begins with an equals sign
is called a "formula". Doesn't matter if it's simply =A1+1, or extremely
complex, it's still called a formula.

- VLookUp is an Excel function. By itself, it is not a "formula". However,
it will normally be used IN a formula.

Although it is quite possible to put values in cells, allow VLookUp to do
its thing, and then grab the value back out of the formula's cell, it is
also possible to simply call VLookUp directly in your VBA code. The
parameters to the VLookUp call can be ranges (named or unnamed) of cells in
your worksheet  and/or local VBA variables, and the result will simply be
returned to a VBA variable like any other function call. This keeps your
VLookUp calls, etc, firmly within your VBA, while still giving you access to
their power.