Transcription is the process of written down information that may come from a speech or sing language, a video or some audio form of lecture, it is related mostly to the process of turning an oral content into a written content, but you can also do the transcription of a manuscript.
While translation is getting the information that is being communicated from one language to another, translation always involve two languages or more. Translation can be done from oral form to oral, or from oral form to written form, but in both cases the language is changed.
Transcription and translation are the same as they covert information.
*Transcription will convert the form, for example from oral to written.
*Translation will convert from one language to another language, for example from english-spanish.
Transcription and translation are different regarding number of languages involved in the process.
*Transcription normally involves one language.
*Translation involves at least two languages.
Transcription and Translation are different regarding the skills required.
*Transcription will require good knowledge in the language you are transcribing the information, good listening and typing skills.
* Translation will require fluency in the languages you are working it and also that understand as a native how some colloquial expression work, also good grammar knowledge of both languages.