Add the SharePoint Version Number to a Word Document

A client asked me today how he could insert the Version of a file stored in a SharePoint Library into a word 2010 document, my initial response was “use Quick Parts” but I tested and to my surprise it’s not showing in the list of QuickParts.
Nor in the column value “[Version]” can be used in a different column: the value is being saved only after the item is processed and therefore any calculated value will not take the change and display 0.
Thanks to those simple no-code steps by CodebyCody it’s a quick fix which gets you to start using Sharepoint Information Management Policy Settings. Enabling this label at a Content Type level for instance “Document” will fix all document library in one shot.