This is probably a very silly question but I've never used it before! 
Do you just cut it out the same size as the bottom of the pan? Do you grease the pan before you put it in? After? Do I need to line the sides?
Thanks!
I grease the bottom of my pan and then put the parchment circle on top. I regrease the top of the parchment round and sides and flour as usual. Cake never sticks. When you turn the cake out of the pan peel the parchement off. I also use them when I bake cookies. Just cut the sheet to fit the cookie sheet. I buy the rounds already precut but you can just trace the pan and cut your own. Just cut inside the pencil mark. It is great stuff. It is not hard to use and worth it. Hope this helps. 
Just line the bottom of the pan and spray the sides so the cake doesn't stick. I don't bake any cake without it lost to many cakes stuck to the bottom of the pan.
A little water or grease helps keep the parchment paper from moving around.
No need to line the sides with parchment paper and I rarely grease the paper. It is treated with silicon and it will not stick.
Greasing the sides is optional. For some cakes it is better to not grease the sidesâ¦it helps the cake rise.
I love parchment paper!!! Cake pans are sprayed and then the paper is inserted. No more cakes sticking. Line your cookie sheets- the cookies spread perfectly and no crispy edges. Also you just pull the sheet off the pan on to a flat surface put a new sheet on the cookie sheet and place more cookies on your pan. Faster turn around. Also no washing your cookie sheets. (Yes, you can reuse a the paper on cookie sheets if they don't get too brittle.) Use it for biscuits, scones etc. Heating up those snack tidbits like pizza rolls, frozen french fries .... the grease just beads on the parchment paper and no cleaning up burnt cheese and stuff. Needless to say, I am always looking for large rolls at a good price.
I can't live without parchment! Ok I could, but it wouldn't be as fun.
It's the best thing to use in baking - if you have a restaurant supply store you can get half sheet pans AND pre-cut parchment paper to fit on them - makes life SO easy.
Thanks everyone!! I tried it out and it worked perfectly! I love it!! Can I wash the paper and reuse it?
Yes, you can wash parchment paper and reuse it; however, it is usually more trouble (and cost) than it is worth.
Most all parchment paper has some sort of silicone treatment that gives it non-stick properties. Some brands have a silicone top-coat that can be damaged if you use a rough or metallic scrubber during cleaning.
Congratulations on your victory! 
Yes I agree, when I was a girl my mother always used waxed paper in the bottom of her round cake pans. I use parchment now too but I think its expensive also but I love it so I keep using it. I cut off some, lay down my pan and either use a shart knife to go around it or use a marker and then cut it out. I never spary the bottoms but only the sides. I found if you spray the bottoms and then put in the parchmentn it will want to stay in the pan and not want to slide out. If Im doing a square pan I just lay the parchment in the pan and cut around it with a sharp knife. Sandy
I agreeâ¦many people use Wax Paper. The originating post was asking about parchment paper.
Keep in mind that the wax on Wax Paper melts at oven conditions, even under the cake where temperatures extend beyond 200 degrees F. The âwaxâ on Wax Paper is just paraffinâ¦just like that sold in blocks for canning or candle making.
The wax is food-grade and usually does not impact the taste, even if it is melted into the cake.
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