What is RODTEP Claim Management in ERPNext?

RODTEP Claim Management in ERPNext is a solution offered by Finbyz Tech that helps exporters streamline and automate the management of government export incentives like RODTEP and Duty Drawback within the ERPNext system.

How can I set up RODTEP Claim Management in ERPNext?

To set up RODTEP Claim Management in ERPNext, navigate to Company Details under Accounts settings and create specific accounts in the Chart of Accounts such as Duty Drawback Receivable Account, Duty Drawback Income Account, Duty Drawback Cost Center, RODTEP Receivable Account, RODTEP Income Account, and RODTEP Cost Center. Link them accordingly to begin managing your claims.

How do I record export sales invoices with RODTEP and Duty Drawback rates in ERPNext?

When creating an Export Sales Invoice in ERPNext, fill in the RODTEP rate, Duty Drawback rate, freight, and insurance under the Exim section in the item table. The app will automatically calculate the FOB amount along with the corresponding RODTEP and Duty Drawback values.

What is the process to file a RODTEP claim in ERPNext?

To file a RODTEP claim, go to the RODTEP Claim Process in ERPNext, add a new claim by entering Script No, Posting Date, Start and End Dates. Use 'Get RODTEP Entries' to fetch related journal entries, remove any irrelevant entries, enter the RODTEP Script Account, and then save and submit. A journal entry will be automatically created reflecting the claim.

How can I sell my RODTEP License using ERPNext?

Create an item called 'RODTEP License' and set the RODTEP Script Account as its default income account. Create a sales invoice selecting this item and enter the sale amount. Record any difference between sale value and script amount as a discount in the tax and charges section.

How do I use the RODTEP License against import duties in ERPNext?

You can use the RODTEP License against imports by passing a journal entry where you credit the RODTEP Script Account and debit the custom duty charges account.

How can I manage Duty Drawback claims in ERPNext?

To manage Duty Drawback claims, access the Duty Drawback Claim section in ERPNext, add a new claim with relevant posting date, start and end dates, fetch related entries using 'Get Duty Drawback Entries', remove entries not received, enter the bank account where the drawback was received, and submit the claim for journal entry creation.

Can I automate my export incentive process with Finbyz Tech's RODTEP Claim app?

Yes, Finbyz Tech's RODTEP Claim Management app for ERPNext automates your export incentive process including RODTEP and Duty Drawback claims, simplifying tracking and accounting for exporters.

How do I get started or get support for RODTEP Claim Management in ERPNext?

You can download the RODTEP Claim Management app from Finbyz Tech or contact them directly for a personalized demo and support to streamline your export incentive process.

RODTEP Claim Management in ERPNext

Streamline your RODTEP and Duty Drawback claims using ERPNext. Finbyz Tech, a leading ERPNext Implementation Partner in Ahmedabad, offers tailored solutions for exporters.

Introduction

As an exporter, you are eligible to receive government incentives like RODTEP and Duty Drawback for your exports. This app streamlines the management of these benefits, offering complete export-wise tracking and automation for your RODTEP claim process in ERPNext.

How to use the App

After installing the app, begin with the ERPNext RODTEP setup. Navigate to Company Details under Accounts settings and create the following accounts in the Chart of Accounts. Then, link them accordingly:

Duty Drawback Receivable Account
Duty Drawback Income Account
Duty Drawback Cost Center
RODTEP Receivable Account
RODTEP Income Account
RODTEP Cost Center

Create an Export Sales Invoice. In the item table, under the Exim section, fill in the RODTEP rate, Duty Drawback rate, freight, and insurance. The app will auto-calculate the FOB amount and corresponding RODTEP and Duty Drawback values.

Save and submit the invoice. A Journal Entry will be automatically created using the accounts defined in the ERPNext RODTEP setup.

To manage RODTEP claims, go to RODTEP Claim Process in ERPNext:

Click on Add RODTEP Claim.
Enter Script No, Posting Date, Start Date (Goods Exported), End Date.
Click on Get RODTEP Entries, and you will get the journal entry with shipping bill no. which type is RODTEP, and the entry will be between Start date to End Date.
Remove the journal entry that is not included in the RODTEP Script.
Enter RODTEP Script Account.
Click Save and Submit.
After submission of RODTEP Claim, a Journal Entry will be created for Script Account Debit and RODTEP Receivable Account Credit.

Note: The same Journal Entry number cannot be reused. It links with the RODTEP Claim during the “Get RODTEP Entries” process.

To sell RODTEP License:

Create an item named "RODTEP License" and set the RODTEP Script Account as the default income account.
Create a sales invoice as you would for a regular invoice. In the item table, select the "RODTEP License" item and enter the sales amount.
Any difference between the sale value and the script amount should be recorded as a discount in the tax and charges section.

To use the RODTEP License against imports:

You need to pass a Journal Entry.
Credit the RODTEP Script Account.
Debit the custom duty charges.

To manage Duty Drawback Claim, go to Duty Drawback Claim in ERP:

Click on Add Duty Drawback Claim.
Fill in Posting Date, Start Date (Goods Exported), and End Date.
Click on “Get Duty Drawback Entries” to fetch related journal entries for the specified date range with type Drawback.
Remove the journal entry for the drawback that has not been received.
Enter the bank account where you received the Duty Drawback.
Click Save and Submit.
After submission of Duty Drawback Claim, a Journal Entry will be created for Bank Account Debit and RODTEP Receivable Account Credit.

Ready to streamline your RODTEP claims?