Have you ever wanted to combine the adjustments or effects you’ve applied on different layers without flattening the image? I have. For example, generally I like to sharpen my image after I’ve completed everything else. One way to do this is to flatten the image, and then sharpen it. A better, non-destructive way is to combine all of the layers into a composite layer and then sharpen that layer.
In Photoshop Elements this can be done using a keyboard shortcut command. The Undo History calls this command Stamp Visible. The shortcut itself is Ctrl+Shift+Alt+E. To apply it, make your top layer the active layer, and then apply the shortcut. The result is a new layer on top of the layer stack that has incorporated all of the adjustments applied in the layers below. See Layer 2 in the figure below.
Now that you have a composite layer you can sharpen or anything else you would like to do. If you don’t like results you have applied to this layer, or you would like to fine-tune the adjustments on the layers beneath it, simply delete the composite layer, Layer 2 in the figure.
As far a I know the shortcut is the only way to apply this command. It does not appear in the Menu.