Accounting Setup Guide - Tax Setup (Tax Agencies, Tax Liability)

If your Company charges and pays taxes, it is important to configure the settings in your Striven system on the Tax Setup page.

First you will want to set up whether your taxes are owed based on an Accrual basis or a Cash basis and select your Tax GL Account.

Another important element to documenting taxes in Striven will be the creation of Tax Agencies. You can create agencies for State, City, or Other if your Company pays any other type of tax. To create Tax Agencies in your system, navigate to the Tax Agencies page.

You can use Striven’s Tax Liability Report to determine how much of your transactions resulted in taxable and non-taxable sales per Agency. The Tax Liability Report has search filters to narrow your results for more detailed reporting.

For more information regarding Tax Setup, Agencies, and the Tax Liability Report, you can review the Tax Setup section of our Striven Accounting Setup Guide. You can also browse our Striven Business Software YouTube channel for other useful Accounting Setup topics.

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