Here's what you want to know about the .png format:
- The transparent background has no limits!
- PNG images have a loss-less compression.
- The PNG format also supports 24-bit color like the JPEG format. A PNG image may include over 16 million colors. Keep in mind a GIF is also transparent, however, mostly used for animated graphics. GIF images only include a maximum of 256 colors.
Open the image, or layout you would like to use.
Photoshop is all about layers, make sure your layers panel is open.
As always, let us know if you have any questions!