T-Chek Systems, Inc. and Convey Compliance Systems close gap on electronic accounts payable and 1099 processing
Convey Media Contact:
Nick Green, Convey Compliance Systems
EDEN PRAIRIE, MN – February 7, 2011 – T-Chek Systems, Inc., a business-to-business provider of intelligent spend management, and Convey Compliance Systems have entered into an agreement providing businesses with a more robust solution to 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 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 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.
“With businesses operating with fewer and fewer resources, performing tax regulatory activities and delivering all important tax communications to vendors and customers is more challenging than ever”, says Troy Thibodeau Executive Vice President of Marketing at Convey. “Convey is excited to work with T-Chek to provide clients the market’s most scalable and flexible accounts payable and 1099 reporting and withholding solutions, especially at a time when risks for non-compliance continue to grow.” 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.
Convey will be hosting a series of educational webinars sponsored by T-Chek that further explain the importance of 1099 compliance, processing and reporting.
About T-Chek Systems, Inc.
T-Chek Systems, Inc. is a business-to-business provider of intelligent spend management and payment processing services. Our core competency is transaction management through flexible automated systems. Our client value is service, insight and analytics providing business intelligence improving decisions that impact our client’s business results. Visit www.tchek.com.