Colour with transpareny not showing up

I am using Toon Boom Essentials and no matter what I click on there is no colour with transparency option coming up. Is it because I have the Essentials or is something wrong?

What are you trying to do?

Use a color value which has an alpha channel—such as rgba. As with opacity , a value of 1 for the alpha channel value makes the color fully opaque.

Yes, if they are trying to create/edit a colour swatch. Open the swatch you want. Edit the colour if you like, then change the Alpha value/slider to the transparency of your liking.