Here is the skinny with the 414.
You have 2 record modes for each track. One is Direct (1, 2, 3, 4) and the other is Bus. Tracks 1 and 3 are BusL, and tracks 2 and 4 are busR.
If you want to have the most versatility, record direct. This means, whatever you record on track 1 will be on...