Check current month column and update it accordingly

Hello, In E6 of sheet 1
copy paste below the hold control and shift together and then hit enter to make it array formula
=IF(INDEX(INDEX(Sheet2!$F$3:$Q$12,0,MATCH(TRUE,TEXT(NOW(),"MMM")=LEFT(Sheet2!$F$2:$Q$2,3),0)),MATCH($B6&$C6,Sheet2!$B$3:$B$12&Sheet2!$C$3:$C$12,0))=0,"","Received")

then drag down

Change dates JAN'14 to real first of month dates
1/1/2014 and so on custom format as mmm'yy
then in sheet 1 d6 put
=IF(INDEX(Sheet2!$F$3:$Q$12,MATCH(C6,Sheet2!$C$3:$C$12,0),MATCH(EOMONTH(TODAY(),-1)+1,Sheet2!$F$2:$Q$2,0))>0,"RECIEVED","")
fill down
conditional format cells to change to green when they = recieved

I have made some changes in sheet 2 range F2:Q2. I just put the dates there and custom formatted as mmm'yy.

Then on sheet1 in the cell D6, try this Array Formula. Since this is an array formula so you need to confirm it with Ctrl + Shift + Enter instead of just Enter. (i.e. hold down the Ctrl + Shift and then press Enter)

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and drag down.

Is this what you want?

For detail see the attached sheet.

mind you once youve changed dates to real f1rst of month dates dates
then
=IF(INDEX(Sheet2!$F$3:$Q$12,MATCH(C7,Sheet2!$C$3:$C$12,0),MATCH(TODAY(),Sheet2!$F$2:$Q$2,1))>0,"RECIEVED","") will do