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In the reference tab of Form Simplicity, users can check their current version under account information. The professional edition is a free benefit for Florida Realtors members, enabling management of transactions, document handling, printing, emailing, and filling out forms. For those needing more features, there's an upgrade to the ultimate edition, which offers increased storage capacity for transactions and unlimited e-sign sessions. Users can view their edition and upgrade directly from this section. The tutorial then proceeds to examine a specific transaction created by the presenter.