When it comes to tracking, AdWords does provide
Conversion Tracking, but it's not geared specifically to tracking just paid search impressions. However, we do have a couple of
reports that aggregate information on search impressions, clicks, and conversions. There's the
Search Query Performance Report, which has impression data based on search query terms. Another report that has some interesting data on search and impressions is the
Paid and Organic Query Report. This has data on both paid and organic (shows up in Google search results) queries. You could do a bit of filtering on the report to narrow your focus on the paid results.