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In this video tutorial, Abdullah Hammond explains how to manage contract expiry dates, which is particularly useful for HR professionals but applicable in various fields. He starts by identifying the contract's starting date, using April 8, 2020, as an example. With a contract duration of 12 months, he introduces the use of the EDATE function to calculate the contract's ending date. The EDATE function requires the starting date and the number of months to add or subtract; positive values move the date forward, while negative values move it backward. This method provides an efficient way to track contract durations.