Do you e-mail different versions of documents back and forth so many times that you lose track of which version is the most current, or who made the last changes? SharePoint solves this problem managing document versioning for many popular Microsoft Office documents from applications such as Word, Excel, Access, PowerPoint, Visio and OneNote. Users can specify many granular settings around document versioning including creating major and minor verions, and creating policies for how many previous copies to keep
Watch a Tutorial about SharePoint versioning
In this SharePoint screencast tutorial howto you will learn how to enable document versioning.