I too just bought the product this weekend. After briefly encountering this same "no audio" problem, I figured it out. Simply put, whenever you are starting the program, the Roxio wires need to be assembled one by one. First, put the USB portion into your computer. Next, put the micro-USB adapter in. Afterwards, take your RCA cables and plug them into the assembly. Finally, plug them into the appropriate outputs on your VHS or camcorder. As previous poster "tainters" said, if you assemble the wires in a different order, the audio levels are set to mute by default. Hope this helps!