Beds, Overdubs, Mix
In the pro studio environment this is how it's done. The band plays the songs together but the only elements that are kept are the Drums, Bass guitar and sometimes the rhythm guitar. These together constitute the "bed Tracks" Next we begin the overdub process. This is where we layer on the additional guitar tracks, add things to sweeten the mix like strings, or synthesizer work. This is also where you might add accents like brass etc. Once you're done the process of layering it's time to mix the song. It's been done like this since the birth of multitrack recording for one very good reason. It works!