Veem for ProAdvisors, Accountants & Bookkeepers

by

Veem is the global payments network built for business. Trusted by a growing network of more than 165,00 businesses around the world, it's an inter-continental payment tool that allows companies and businesses to send, track and receive money to and from more than 110 countries.

Through their mission to help businesses build and strengthen their relationships with suppliers and partners all over the world Veem simplifies international wire transfers by eliminating foreign payments middle-men and redesigning global money transfers to cut-out needless bank involvements, delays and fees so that payments get where they are going on time and at a better rate. And because Veem integrates with QuickBooks it also provides a totally revolutionary payment experience.

While Veem is available to any QuickBooks Online user (as well as users of other accounting systems) ProAdvisors, Accountants, Bookkeepers and Business Consultants have the opportunity to become Veem Accountant Partners. The Veem Accountant Partnership offers certain benefits including:

  • A dedicated support manager for both the sender and receiver of the payment.
  • Integrations allowing you to focus on managing your business not your accounting.
  • No monthly fees or individual user fees.
  • Businesses can access financial tools, like Veem Capital, to enable growth and scale operations.

Users can sign up and link from the Intuit app center as well as from the Veem website using the Intuit Single Sign On (SSO) option and connect their QuickBooks Online account from the integrations page in their Veem profile once established.

As I mentioned a moment ago, ProAdvisors, Accountants, Bookkeepers and Business Consultants have the opportunity to become Veem Accountant Partners. The partnership allows them to send, receive, and track multiple client payments all in one place with the free Veem Accountant Dashboard (shown below) which is also the easiest way for them to  synchronize and reconcile all payments with QBO in real time. Click the drop down next to any of your clients to get an overview of their QBO account.

After clicking into a specific client from your Accountant Dasboard that client's User Dashboard (like the one shown below) will open and all bills will appear on the QuickBooks tab of their Veem dashboard. This is essentially identical to the dashboard your client would see when they are using Veem themselves.

From here you can view open payments that need your approval, or create payments on behalf of your client. Quickly process a payment to a vendor when they are part of the Veem network simply by clicking the 'pay' button.

When submitting a payment you can include multiple review and approval (as shown in the illustration below) requirements before the payment is initiated from your bank account; you can also require a set number of approvers from a pool of users. And coming soon Veem will offer for the ability to set a threshold for each payment for how many and which specific approvers are eligible to approve payments within those thresholds.

All Veem payments come with a full tracker that will update both the payer and recipient with time stamps for payment activity as well as estimated times of payment arrival. An example of the Veem Payment Status - Payment Details is shown in the figure below. Veem automatically updates that status of Paid Bills in QuickBooks as 'Paid'.

For those ProAdvisors, Accountants, Bookkeepers and Business Consultants supporting QuickBooks Desktop rather than QuickBooks Online, Veem does not offer a full integration with QuickBooks Desktop at this time; however, they do offer a .csv export file that allows Veem transactional data to be uploaded to QuickBooks Desktop Accountant.

Remember, if you would like more information about Veem check out their Company website, or their Intuit App Center Landing Page. And, if you want more details specific to the Veem Accountant Partners Program you will find them here.