Automatically Generating Journal Entries for Export
The India Localization SuiteTax Engine SuiteApp lets you automatically generate adjustment journals for export sales transactions.
To process export sales with IGST payment and no LUT or Bond, enable the Auto-Generate Adjustment Journal for Export feature. After you enable this feature, the SuiteApp will automatically create a journal entry every time you create a sales transaction.
To enable automated journal generation for export transactions:
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Go to Setup > India Localization > Configuration > Goods and Services Tax.
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On the Goods and Services Tax subtab, check the Auto-Generate Adjustment Journal for Export box.
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In the Refund Account for Export with Tax Payment section, set up the refund account for export with tax payment by nexus.
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In the Nexus field, select a nexus from the list. Only nexuses where country is India will appear in this field.
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In the Refund Account field, select an account from the list. Only accounts with the type Other Current Asset will appear in this field.
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Click Add.
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Click Save.