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In this video, PK introduces Version 2 of the Annual Leave Tracker, detailing enhancements based on viewer suggestions. The new template includes a form to streamline the leave marking process, replacing the previous manual method. It also allows users to mark half-days. Viewers are encouraged to watch the original Annual Leave Tracker video for better understanding. The enhancements aim to make the tracker more useful, and the template is available for download from the website. The video highlights the improvements over the earlier version, emphasizing ease of use for marking leave effectively.