Alesis iO14 Reference Manual page 32

Getting Started with Cubase LE
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7. If you want to monitor your audio with Cubase's effects
(distortion, reverb, etc.), press the direct monitoring button
next to the Record Enable button.
Using Cubase's direct monitoring requires the audio to make
a round-trip through the computer, which causes a small but
noticeable delay as the digital audio is processed. To avoid any
echo effects, open the Alesis Hardware Direct Monitoring
panel and mute the corresponding input. This way, you will
only hear the signal with effects without also hearing the pure
signal output from the IO.
8. Add additional audio tracks as needed. Record-arm each one
and press the RECORD button to begin recording.
For additional information, consult Cubase's documentation.
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