Tip: This works better if you use a nice broad font. This effect will look good in most colours, but black and white are generally the least effective.
Open up Paint Shop Pro and create a new image, or open up the image you want to add text to.
Click , and change your settings to match mine below (but pick your own font and size, obviously). Click ‘Ok’, and your text should have a floating dotted line around it.
At the top of the screen click ‘Effects’ > ‘3D Effects’ > ‘Inner Bevel’.
Choose the ‘bevel’ you want and/or a ‘preset’. A preview of the text will show up in the second window. When you’re happy with your choice, click Ok.
On your keyboard, press ‘Ctrl’ and hold down while you press ‘D’ once to deselect the image. Save. Your text should look something like this: