Page Comparison

Open DaVinci Resolve

Create a New Project or Open an existing project

Click on the Media Tab at the bottom of the interface

If you have a self contained QT export to caption
>Navigate to the file and right click and
>Add into Media Pool

If prompted to Change Frame Rate click Change so the project has the same frame rate as the media file

Click on the Edit Tab

Drag the clip to a new timeline

Or if using an existing project open the timeline you would like to caption

Go to Timeline
>Create Subtitles from Audio

If you are using the non Studio version of Resolve then you will get this message

>Press Not Yet

Then make sure your settings are like the ones in the screen shot.

>Press Create

Then allow the captions to generate.

This can take awhile.

Then you should see a new track on your timeline with the completed subtitles. 

Double check them all for errors.