Import Transcript lets you align an existing transcript with its corresponding audio, free of charge.
This means you can turn a transcript you got elsewhere (say, from a professional transcriptionist) and turn it into a full-fledged Descript Project.
To do so, just drag in the audio you'd like to sync. You'll see a menu that lets you choose from Automatic transcription (Descript's super-fast, AI-powered transcription), White Glove (Human-powered transcription), and Import Transcript.
Choose the latter, and you'll be prompted to paste in the text of your existing transcript. Click Sync, and Descript will start the process of aligning your text with the audio. This can take awhile - up to 50% of the duration of the audio.
Descript will automatically detect Speaker Labels and some other key features in your existing transcript; here are some tips for formatting your transcript.