Did you ever wanted to get a report on version history stored
in SharePoint (list and/or library)! If so you are at the right place. Content
management made easier by SharePoint! SharePoint 2010 includes a great feature
called Version Control by providing
one centralized location for files. Version control provides the functionality
to save multiple instances (versions) of the same document and you can easily
configure versioning control for a document library by going to Library
Settings > General Settings > Versioning Settings. You can also set up
retention policies, check documents in and out, create a document version
history (major/minor) that you can access, manage, and modify easily with your
web browser.