Automate column base on today's date

[Christopher_Roq]

hi guys,

maybe you can help me i’m a new user- what I’m trying to do is i have a column “contract status” that will update an “ACTIVE” or “EXPIRE” and will automatically update the column base on our calendar today’s date.

i have a formula below that wont trigger or update the column
IF(([EXPIRATION DATE] <TODAY()+1) ,"Expired","Active")

today’s date is feb 6,2021 already passed date but the column status is still on “Active”