QBO App First Look at VEEM

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Veem, formerly Align Commerce, is now live on the Intuit App Center and it integrates with QuickBooks Online.  This inter-continental payment tool allows companies and businesses to send, track and receive money to and from 60 countries.

Veem simplifies international wire transfers so as to improve your business productivity.  The Veem dashboard enables you to track all your international payments.

Veem has eliminated the middle-man in making foreign payments by redesigning global money transfers in such a away as to cut-out needless bank involvements, delays and fees so that your payments get to where they are going on time and at a better rate than traditional routing. 

And what could be a better rate than 'zero wire transfer fees!'

Like I said, Veem now connects with QBO. This new connector provides a simple way for QuickBooks Online users to pay international suppliers, using a fee free option to transfer money to over 60 different countries.

The connection between Veem and QBO means no more double data entry when making Veem payments and recording them in QuickBooks. An interface even allows Veem Accountant Partners to prepare payments on behalf of their clients for approval before the funds are actually transferred. 

Once Veem is connected to QuickBooks, a new Veem 'bank' account is set-up in QBO to enable you to track transactions paid through Veem.  You can even make this new account a sub-account of an existing bank account you might be using to pay international transactions.

Your unique situation regarding how you are being billed by your foreign vendors will determine if you need to be using QBO Multi-currency, but Veem handles all of these situations.

Your payment process using Veem begins in exactly the same way payments would be processed for any other Bill.  Simply enter the Vendor Bill Information, if not already set-up in QBO. Then enter the Vendor's bill(s) just the way you always do in QuickBooks.

Now pay your bills in Veem. On the Veem dashboard you will find a QuickBooks Online tab. From that tab you will select the bills you want to pay and click 'send' to pay them. 

Bills paid via Veem will be removed from the dashboard's QBO tab and will then appear on the outgoing tab.  At the same time Veem automatically updates the bill status in QuickBooks Online to 'paid'.  Veem payment details are saved in the payment memo so you have all the information you need right there in QBO.

By the way, if you didn't catch it earlier, I said, that you can send wire transfers to 60 countries without any wire transfer fees using Veem.

You can get started by completing a simple, no hassle registration at Veem. If you are interested in their Channel Partner program you will find more information at this webpage.