These settings are related to sending and receiving alerts when you execute some certain act. I.e
1 create customer welcome email. This intimates the customer through email as welcome note.
2 create customer welcome notification. By selecting this option, the customer is intimated through a notification.
3 order email. By selecting this option, the customer would be notified through email on placing an order.
4 Order notification. This would be an intimation through notification on placement of order.
Order status email. This email would intimate the customer about the status of the order placed.
Order status notification. This option would intimate the customer through a notification.
New product email: This would be an intimation through email when a new product is added to your store.
New product notification. This intimation would be sent through a notification on addition of new product in store.
Forgot password. This intimation would be sent when the customer login password is forgotten.
Adding news email. An email would be sent when you add a news to news section.
Adding news notification. This intimation would be made through a notification when some news is added to the news section.
Email contact us. An email would be sent when the customer click on the contact us option.
Use below link.