Yes, TRANSCRIPT is a Scrabble word!

Letter values in Scrabble US: T 1, R 1, A 1, N 1, S 1, C 3, R 1, I 1, P 3, T 1.

Is it a valid word?

TRANSCRIPT is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

something that has been transcribed; a written record (usually typewritten) of dictated or recorded speech
a reproduction of a written record (e.g. of a legal or school record)