diff --git a/pyproject.toml b/pyproject.toml
index 6a7d8894..624095aa 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -10,7 +10,7 @@ build-backend = "setuptools.build_meta"
 
 [project]
 name = "zppy"
-version = "3.1.0"
+version = "3.2.0rc1"
 description = "Post-processing software for E3SM"
 readme = "README.md"
 requires-python = ">=3.11,<3.15"
diff --git a/tbump.toml b/tbump.toml
index f7e04a2e..43b517d8 100644
--- a/tbump.toml
+++ b/tbump.toml
@@ -2,7 +2,7 @@
 github_url = "https://github.com/E3SM-Project/zppy.git"
 
 [version]
-current = "3.1.0"
+current = "3.2.0rc1"
 
 # Example of a semver regexp with support for PEP 440
 # release candidates.Make sure this matches current_version
diff --git a/zppy/__init__.py b/zppy/__init__.py
index 6d1c74fb..9d1f72aa 100644
--- a/zppy/__init__.py
+++ b/zppy/__init__.py
@@ -1 +1 @@
-__version__ = "v3.1.0"
+__version__ = "v3.2.0rc1"