The actual dictionary definition reads as follow:

Transcription (linguistics), the conversion of spoken words into written language. Also the conversion of handwriting, or a photograph of text into pure text.

In simple words you will take recorded audio/video and type it into text form using a computer document form such as Microsoft Word or Excel. The biggest thing to learn is how to format this text, as we will show you.

You may have already done transcription and didn’t even know it; for example, maybe when you were younger, you had a favorite song and you wanted to learn the words.

So you put the digital media player, cassette or CD on play and jotted down the exact words of the song by starting and stopping the song so as to gather all the words. Yes, this would be transcribing.

The only difference now is you will be jotting down into particular formats by typing the words onto a computer document.