diff --git a/setup.cfg b/setup.cfg
index 07b9fbad5..3303f4383 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.40.0
+current_version = 0.40.1-beta
 commit = True
 tag = False
 parse = (?P<major>\d+)\.(?P<minor>\d+).(?P<patch>\d+)(\-(?P<release>[a-z]+))?
diff --git a/setup.py b/setup.py
index 52264605b..49d5d03bc 100644
--- a/setup.py
+++ b/setup.py
@@ -12,7 +12,7 @@
 AUTHOR = "Travis Logan"
 AUTHOR_EMAIL = "logan.travis@ouranos.ca"
 REQUIRES_PYTHON = ">=3.8.0"
-VERSION = "0.40.0"
+VERSION = "0.40.1-beta"
 LICENSE = "Apache Software License 2.0"
 
 with open("README.rst") as readme_file:
diff --git a/xclim/__init__.py b/xclim/__init__.py
index 5d558f77a..e2640af48 100644
--- a/xclim/__init__.py
+++ b/xclim/__init__.py
@@ -11,7 +11,7 @@
 
 __author__ = """Travis Logan"""
 __email__ = "logan.travis@ouranos.ca"
-__version__ = "0.40.0"
+__version__ = "0.40.1-beta"
 
 
 # Load official locales