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Go to Project Location

Pull down the menu and

Choose a location to save your file

Click on the Media Browser tab and navigate to

the exported files location on the hard drive

Right click the file and choose to Import into

the project

Once you have your movie edited and are ready to export you can have Adobe Premiere auto generate the transcript and add a subtitle track to your timeline. 

Click on the Text tab in the Preview Panel.

If you do not see the Text window choose

>Window>Text

The Text Panel will open.

Make sure that Captions tab is selected

Click on Create captions from transcript.

The captions preferences window will appear

Choose English

Speaker Labeling choose not to separate 

Audio track to caption pick Mix to get all the dialog

Click - Transcribe & create captions

Transcribing will begin.  

When the transcribing is complete,  the captions panel will display each section of dialogue in it's new format and a new track will be added on the timeline

If you need to adjust the timing of when, or how long, the text is displayed on the screen you can adjust individual text blocks in the subtitle track on the timeline. 

There are two ways to deliver captions

BURN IN CAPTIONS.  This will have the captions on the image of the file.

Or

As a .srt file that will be the captions in a file that can be applied as hidden captions not burnt in but will be "closed captions" 

Be sure you know which way to deliver the captions!

How to export BURNT IN CAPTIONS

File → Export → Media

In the Export settings window,

Under the CAPTIONS section:

Export Options = Burn Captions Into Video

File Format = SubRip Subtitle Format (.srt)

Frame Rate = Milliseconds

You can now export your movie.

How to export a .srt file

Go to >File>Export>Captions

Choose SubRip Subtitle Format .srt

Include SRT Styling, click OK

Choose where to save the .srt file