diff --git a/PROCESSORS.md b/PROCESSORS.md
index 694e8ba..28f6e7a 100644
--- a/PROCESSORS.md
+++ b/PROCESSORS.md
@@ -197,6 +197,7 @@ def dump_to_path(out_path='.',
 - `options` - Format specific options. At the moment, only relevant to the Excel format:
     - `sheetname` - Provide the name of the sheet that will be used when creating the Excel file (otherwise will use the resource name)
     - `update_existing` - Instead of creating a new file, update the file specified by this option (needs to be a string path to the excel file).
+                          If the file does not exist, it will be created in this location.
                           If a sheet with the same name exists, it will be removed and re-added.
 
 #### dump_to_zip
diff --git a/dataflows/VERSION b/dataflows/VERSION
index 0d91a54..9e11b32 100644
--- a/dataflows/VERSION
+++ b/dataflows/VERSION
@@ -1 +1 @@
-0.3.0
+0.3.1