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In this video tutorial, PK introduces version 2 of the Annual Leave Tracker, which includes several enhancements based on viewer feedback. The new template features a form for marking leave, allowing for easier input compared to the previous manual method. Additionally, there is an option to mark half days. PK encourages viewers who haven't seen the original video to do so for a better understanding of the template. The updated template offers both daily and monthly views in Excel and is available for download from their website. The goal is to make the tool more useful for users.