diff --git a/docs/release-notes/version-4.0.md b/docs/release-notes/version-4.0.md
index cfc3dc197..4537a8800 100644
--- a/docs/release-notes/version-4.0.md
+++ b/docs/release-notes/version-4.0.md
@@ -1,5 +1,9 @@
 # NetBox v4.0
 
+## v4.0.7 (FUTURE)
+
+---
+
 ## v4.0.6 (2024-06-24)
 
 ### Enhancements
diff --git a/netbox/netbox/settings.py b/netbox/netbox/settings.py
index 40974f648..3a8e51e05 100644
--- a/netbox/netbox/settings.py
+++ b/netbox/netbox/settings.py
@@ -25,7 +25,7 @@ from utilities.string import trailing_slash
 # Environment setup
 #
 
-VERSION = '4.0.6'
+VERSION = '4.0.7-dev'
 HOSTNAME = platform.node()
 # Set the base directory two levels up
 BASE_DIR = os.path.dirname(os.path.dirname(os.path.abspath(__file__)))