diff --git a/doc/dev/Versioning.md b/doc/dev/Versioning.md
index b5d2f3c8a64d7..3e662f869ee2c 100644
--- a/doc/dev/Versioning.md
+++ b/doc/dev/Versioning.md
@@ -45,8 +45,8 @@ They will use the following format which is also used by the .NET team:
 ```
 FILEMAJOR.FILEMINOR.FILEPATCH.FILEREVISION
 ```
-- `FILEMAJOR`: Specified in the first part of `VersionPrefix` property.
-- `FILEMINOR`: Set to `MINOR * 100 + PATCH / 100`, where `MINOR` and `PATCH` are the 2nd and 3rd parts of `VersionPrefix` property.
+- `FILEMAJOR`: Specified in the first part of `Version` property.
+- `FILEMINOR`: Set to `MINOR * 100 + PATCH / 100`, where `MINOR` and `PATCH` are the 2nd and 3rd parts of `Version` property.
 - `FILEPATCH`: Set to `(PATCH % 100) * 100 + yy`.
 - `FILEREVISION`: Set to `(50 * mm + dd) * 100 + r`. This algorithm makes it easy to parse the month and date from `FILEREVISION` while staying in the range of a short which is what a version element uses.
 
diff --git a/eng/scripts/Update-PkgVersion.ps1 b/eng/scripts/Update-PkgVersion.ps1
index d39c726d5455e..ac429a153eed2 100644
--- a/eng/scripts/Update-PkgVersion.ps1
+++ b/eng/scripts/Update-PkgVersion.ps1
@@ -53,6 +53,11 @@ $csproj.Load($csprojPath)
 $propertyGroup = ($csproj | Select-Xml "Project/PropertyGroup/Version").Node.ParentNode
 $packageVersion = $propertyGroup.Version
 
+if (!$packageVersion) {
+  Write-Error "Could not find the <Version> element in your project $csprojPath, be sure it has a Version property and not a VersionPrefix property."
+  exit 1
+}
+
 $packageSemVer = [AzureEngSemanticVersion]::new($packageVersion)
 $packageOldSemVer = [AzureEngSemanticVersion]::new($packageVersion)
 Write-Host "Current Version: ${PackageVersion}"
diff --git a/sdk/webpubsub/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub/CHANGELOG.md b/sdk/webpubsub/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub/CHANGELOG.md
index 2601f9cf026bd..d2a089fca0e8e 100644
--- a/sdk/webpubsub/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub/CHANGELOG.md
+++ b/sdk/webpubsub/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 1.8.0-beta.1 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 1.7.0 (2024-07-01)
 
 ### Features Added
@@ -13,4 +23,4 @@
 ## 1.5.0-beta.1 (2023-04-27)
 
 ### Features Added
-- Initial beta release
\ No newline at end of file
+- Initial beta release
diff --git a/sdk/webpubsub/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub/src/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub.csproj b/sdk/webpubsub/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub/src/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub.csproj
index bf300fb0bde1b..8fc21493d5628 100644
--- a/sdk/webpubsub/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub/src/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub.csproj
+++ b/sdk/webpubsub/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub/src/Microsoft.Azure.Functions.Worker.Extensions.WebPubSub.csproj
@@ -1,12 +1,13 @@
-<Project Sdk="Microsoft.NET.Sdk">
+<Project Sdk="Microsoft.NET.Sdk">
   <PropertyGroup>
     <PackageId>Microsoft.Azure.Functions.Worker.Extensions.WebPubSub</PackageId>
     <PackageTags>Azure, WebPubSub</PackageTags>
     <Description>Azure Web PubSub Service extensions for .NET isolated functions</Description>
     <TargetFrameworks>$(RequiredTargetFrameworks)</TargetFrameworks>
     <Nullable>annotations</Nullable>
-    <!--Version information-->
-    <VersionPrefix>1.7.0</VersionPrefix>
+    <Version>1.8.0-beta.1</Version>
+    <!--The ApiCompatVersion is managed automatically and should not generally be modified manually.-->
+    <ApiCompatVersion>1.7.0</ApiCompatVersion>
     <NoWarn>$(NoWarn);CA2227</NoWarn>
     <IsExtensionClientLibrary>true</IsExtensionClientLibrary>
   </PropertyGroup>