Iserror/Index/Match in VBA

Hi All,

I am wondering if you could please help me with the below code I have.

For Each cell In Range("H4:H60")

If IsError(Application.WorksheetFunction.Index(Sheets("PAN").Range("I1:K50"), Application.WorksheetFunction.Match(Range("B" & cell.Row), Sheets("PAN").Range("K1:K50"), 0), 1)) = False Then
Range("B" & cell.Row).Text = "HA"

End If
Next

I've never done an iserror, index or match in vba, so it's something new to me and I'm not exactly sure as to how to go about it.

Also, while I'm here can you please explain when to use "Application." before "WorksheetFunction" and when not to, as I'm having trouble finding the differences.

Your help is greatly appreciated.

Benno