Creating new versions is as simple as providing the necessary details for the new version and clicking on the Add button. Simply go through the following steps:

1. Browse to the Versions tab for the target project.
2. Enter a unique name for the version (for example, 1.1.0, v2.3). Jira will let you know whether the name is already taken.
3. Enter a short description for the new version.
4. Select the date on which the version starts and will be released using the date picker.
5. Click on Add to create the new version.

Unlike components, versions will not be ordered automatically by Jira, so you will have to manually maintain the order. To change the order of versions all you have to do is hover your mouse pointer to the left of the version, and you will be able to drag the version up and down the list.