In order to avoid array formulas, first add a helper column to BData to combine the employee ID and date.... so in H2 enter formula:
=A2&"_"&TRIM(TEXT(B2,"dd/mm/yyyy"))
copied down.
Then in Result B4 enter formula:
=IFERROR(TRIM(INDEX(Bdata!$E:$E,MATCH($A4&"_"&TEXT (B$3,"dd/mm/yyyy"),Bdata!$H:$H,0)))=Mdata!B4,"")
Copied down and across the table
I added an IFERROR() to return a blank if the match is not found. You can replace the "" with FALSE if you want the word False returned instead.
Note: Careful when entering data that you don't have leading/trailing spaces. I've had to use the TRIM() function to remove them virtually.
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