The Bevel/Emboss effect is used to add rounded edges and shadows to give a 3D impression.
Depending on the type of bevel or emboss set, the rounded-edge might be inside or outside an object, convex or concave, and may include a shadow.
For all bevel/emboss effects you can adopt a preset or custom profile that defines the bevel/emboss edge.
The following settings are shown on the Quick FX panel:
The following advanced settings can be adjusted in the Layer Effects dialog: