Hi Shelley Mac 
Related records is the right field to use.
When you access the related record properties it will allow you to specify the relationship type such as "Related to", "Copy of", "Supercedes",..."Latest Version of"  
The related record(s) and relationship type are displayed in properties:related records  for the record, and can also be displayed in the search results by adding the "related records" column entry.

Hi Martin,

Thank you for that feedback, what I am hoping to do is in the Record Form I am creating I want to be able to force the relation type - for example we can select Alternatively within as a field to include on a record from, I want to be able to utilise Supersedes on my form, but cannot see how I can add that.

Thanks

Shelley

Hey Shelley

There is no out of the box way (that I can think of) to achieve this. I had a look at DocQueues and Check in Styles with a bit of hope but Related Record isn't an available option to populate on creation via either of those features.

You might be able to have a record add-in developed to update the records created with your specific record type with the required relationship post-creation?

It may be worthwhile posting your suggestion to the Idea Exchange, it sounds like a reasonable enhancement to me.

Good luck!

Helen