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In this video tutorial, Abdullah Hammond explains how to manage contract expiry dates, primarily for HR professionals but useful in other fields as well. He outlines a process using a contract starting date, exemplified by April 8, 2020, and a duration of 12 months. To determine the contract ending date, he introduces the "EDATE" function, which calculates a new date based on the starting date and the specified number of months. Positive values for months move the date forward, while negative values move it backward. This method helps in accurately tracking contract timelines.