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T-Chek Systems, a provider of intelligent spend management, and Convey Compliance Systems entered into an agreement providing businesses with help regarding electronic accounts payables and 1099 processing.

“Our electronic accounts payable solution combined with 1099 reporting and compliance solves a major market need,” says Petro Tsarehradsky, vice-president for Sales and Marketing at T-Chek. “1099 reporting requirements continue to become more and more complex and burdensome for companies, in a time when financial resources are already stretched thin. Convey Compliance solutions are uniquely positioned to simplify and reduce our clients’ efforts in complying with these increased 1099 reporting requirements.”

One of the advantages of making payments on a purchasing card starting in 2011 is that the burden of 1099 reporting no longer resides with businesses—that burden has now shifted to the payment settlement entity. For purchases that are not made with a purchasing card, T-Chek customers will be able to leverage Convey’s tax information reporting solutions, a suite of turnkey solutions for 1099 processing and tax reporting, including the verification of TIN/name combinations.

T-Chek offers an electronic accounts payable solution comprised of a purchasing card, expense reconciliation, reporting, and accounts payable systems integration that reduce the burden corporations will face in complying with 1099 processing and record management.
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