You must have observed Google AdWords slowly expanding the beta version of its new interface. Continuing the trend, Google has now introduced the beta interface with a new way of viewing conversions.
At present, we can only see 1-per-click conversion at AdWords interface, which means if a customers clicks on the ad, makes a purchase in single day and then comes back to make purchase another day without clicking the ad. In this case only a single conversion is counted. However, the new interface will give you two ways to look at such type of conversions:
Conversions - Columns are now labeled Conversions (1 per click).
Transactions - Columns are now labeled Conversions (many per click).
The many per click transactions count next sale which comes directly and not through the ad. It is also able to count the non sale conversions like a newsletter signup. The conversion is at present only meant for AdWords tool, but in coming time AdWords Editor and AdWords API will also get the metric tool.