How does "Fix Version" work and what is it used for?

[zcocks]

I don't understand this function and would like a simple explanation please. 

Thanks in advance. 

[Jack Brickey · Accepted solution]

Generally it is used to define which product release version(s) the issue is addressed in. Often it works in conjunction with Affected Version(s). For example

affected versions: 1.1, 1.2, 1.2.1

fix versions: 1.2.2, 1.3

[zcocks]

Great, thank you.