Full Studio can import and export raster PSD layers. Advanced text, smart objects, masks and styles may not survive unchanged. Keep the original PSD and inspect each exported copy.
Choose PNG for transparency and crisp graphics. Choose JPG for photographs when a smaller opaque image is useful; each lossy re-encode can reduce detail.
Each editor has its own project format: Quick Paint .layerly and Full Studio JSON. They are not interchangeable PSD files. Save the project and a delivery image, organize versions locally and verify each download.