QuickPunch Audio Recording
Punch recording is used in many areas of audio production. QuickPunch lets you record-enabled tracks be punched in and punched out during playback by clicking the Record button in the Transport. Once basic track material has been recorded, it is often necessary to replace some, but not all, of the audio that makes up each track. Punch recording lets you manually punch one or more audio tracks in and out of recording without stopping the Transport. QuickPunch lets you instantaneously punch in and out all record-enabled audio tracks during playback by clicking the Record button in the Transport.

You do not need to use QuickPunch to punch record with MIDI tracks. MIDI tracks can be punched while in Normal Record mode.