Make sure the computer's audio input is set to USB Audio CODEC. To check this setting click on the Apple logo at the top left of your screen, then select System Settings > Sound. You should see USB Audio CODEC set for your Input.
You'll also need the Video Audio Switch set to Option 1, which is labeled as (1) RECORD PLAYER
Make sure the LP2CD record player is powered on before you play your vinyl record.
At this point you should open the QuickTime Player application located in your Applications folder. To begin creating a new recording go to File > New Audio Recording.
Play your record on the LP2CD record player, turn up the volume in QuickTime to monitor your audio, and then press the red record button to digitize your analog audio content.
Press the stop button in QuickTime to save your content.