Veem Advisor Training and CertificationVeem Payments Best Platform Business payments 2023

Create your Veem account The simplest way to send and receive business payments.

What is Veem?

Veem is an all-in-one AP/AR solution that offers the next generation of financial tools to accountants and bookkeepers that simplifies processes and helps their business grow. Manage your client’s domestic and international payments in a solution that uses your accounting platform as the source of truth. For nearly a decade, Veem is trusted by more than 400,000 businesses in over 110 countries to send and receive money globally. Veem is licensed and regulated in each country and state it serves.

Create your Veem account The simplest way to send and receive business payments.

The State of Wire Transfers

Wire transfers are old news. There we said it. The SWIFT network has been an essential tool for sending international transfers, and the banks have been a key resource in making sure that these transfers happen.

The problem comes from a lack of innovation and a lack of competition in the core structure of the process.

Click through the diagram below to learn more of the steps that take place with a standard bank transfer. start veem account enter here

Create your Veem account The simplest way to send and receive business payments.

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The Veem Solution

Veem looks to offer a simpler, secure, more transparent payment solution, that helps change the way small businesses make payments without the price tag of SaaS payment solutions.

Veem accomplishes this with our multi-rail payment technology, leveraging a number of payment partners and technologies to move money locally and around the world.

Time Saving

88% of Veem customers save up to 104 hours per year
Veem’s real-time payment tracking provides a high level of visibility to BOTH sender and receiver
Automated and streamlined reconciliation process with Quickbooks, Xero, and NetSuite

Create your Veem account The simplest way to send and receive business payments.

Cost Savings

83% of Veem customers save up to $6,000 per year — with many saving even more
No subscription or user fees
No fees to send ACH, check or international wires
Competitive foreign exchange rates

Support and Transparency

End-to-end communication on all Veem transactions
Ongoing support and training from a dedicated customer success team
4.6/5 TrustPilot score

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The Veem Customer

Veem is an essential payment tool for businesses of all shapes, industries and sizes. We are capable of sending international and domestic payments for almost any business, but are particularly well suited for the following circumstances:

Payment for Goods

Veem has no limits on transaction size, which makes it an ideal tool for paying for large exchanges of goods. Veem specializes in payments in corridors common for the trade of goods like China, India and Canada. Veem also facilitates USD to USD payments abroad, on top of competitive rates for FX payments.

Payment for Services

Paying for services with Veem is effortless. Payment tracking, competitive foreign exchange rates and integrations with accounting software makes it easy to pay any service bills securely in just a couple of clicks.

Contractor Payroll

Veem enables users to send a large volume of payments through a single process. No matter how simple your payment flow is, doing something 50,100 times or 200 times becomes time consuming. That’s why Veem offers features like mass payment and mass contact upload to allow businesses to migrate their contractor payment process onto Veem and to begin sending payment batches in just a matter of minutes.

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Countries Served with Veem

Veem services over 110 countries, with a shorter list of countries businesses can send payments out of. Veem currently has the ability to send payments out of the following countries:

USD (United States)
CAD (Canada)
EUR (Europe)
GBP (United Kingdom)
MXN (Mexico)
AUD (Australia)

For a full list of all countries and currencies that Veem supports, please refer to our country list here

Pricing with Veem

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Local Pricing

Sending money locally through bank transfers within the United States and Canada is free with Veem. That’s right; free. No monthly fees, no cost per user, and no transaction fees, just simplified and secure domestic transfers.

We pride ourselves on providing an easy to understand fee structure that serves our customers well and helps them save money and time. To the left, you can take a look at our pricing structure.

If you are looking for more information about our foreign exchange rates, you can check our foreign exchange calculator, located on our pricing page.

Create your Veem account The simplest way to send and receive business payments.

The Accountant Dashboard

With Veem, accountants and bookkeepers can register for a specific account type, that allows them to access their clients’ Veem accounts directly from their dashboard, rather than needing to juggle multiple passwords and logins. To get started with your Veem Accountant Dashboard, follow the steps to the right.

start veem account enter here

Create your Veem account The simplest way to send and receive business payments.

start veem account enter here

Setting up Clients for their Veem Account

Create your Veem account The simplest way to send and receive business payments.

Now that you have created your Veem Accountant profile, it’s time to get your clients onboarded. Veem offers flexibility in how you onboard your clients depending on how you work with them. If you manage a larger portion of their day to day operations, you can complete their signup for them. If you take an advisory or supervisor role, you can simply provide your clients with the tools they need to set up the account themselves. Follow the instructions on this page to get started.

The Veem Dashboard

The Veem dashboard is your first stop for anything related to Veem. From here, you can start pretty much any Veem activity. Click around to learn more about the kind of access the Veem dashboard gets you

Create your Veem account The simplest way to send and receive business payments.

Settings

The Settings section is available to any user that has Access to Settings enabled on their profile. Each tab gives you the ability to add and edit features of you or your clients’ account. Check out the sections below to learn more about what each section provides users with access to.

Create your Veem account The simplest way to send and receive business payments.

Setting Up a Company Approval Structure

With Veem, you can customize your company structure to allow permissions to send and approve payments based on separate tiers. There is no limit to the number of tiers or approvers you can provide for your account.

To get started, you will need to add your payment creators. Payment creators are users that have the ability to create draft payments for approval, but are not able to complete and send the payment without approval.

To build your approval structure, simply add tiers, then set the amounts you would like for each tier, along with the number of approvals needed and the user authorized to approve those transactions.

Click on the image to the right to learn more about each tier used in this example.

Approving Payments

If there are payments that require your approval, you will be able to find them in your Approvals tab on your dashboard. You will see a list of all transactions currently requiring approvals, with special attention paid to transactions requiring your approval. Transactions in purple have already been approved or do not require your attention, while yellow does require your approval.

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Create your Veem account The simplest way to send and receive business payments.

QuickBooks Online and Veem

Veem’s QuickBooks Online integration creates a two way communication between Veem and QuickBooks, giving you the ability to send and request payments from Veem based on information provided by QuickBooks.

You also have the ability to pull information and transactions from your Veem account to QuickBooks Online automatically.

To get started with your Veem integration with QuickBooks, navigate to the Integrations tab on your Veem dashboard. You should see a list of services and partners that Veem works with to streamline payments. On this tab, select the Connect to QuickBooks button.

Once selected, you will be directed to a new page where you will prompted to log in to your QuickBooks Online account. Once signed in, authorize the connection and you will be ready to get started!

Create your Veem account The simplest way to send and receive business payments.

Xero and Veem

Veem’s Xero integration creates a two way communication between Veem and Xero, giving you the ability to send and request payments from Veem based on information provided by Xero.

You also have the ability to pull information and transactions from your Veem account to Xero automatically.

To get started with your Veem integration with Xero, navigate to the Integrations tab on your Veem dashboard. You should see a list of services and partners that Veem works with to streamline payments. On this tab, select the Connect to Xero button.

Once selected, you will be directed to a new page where you will prompted to log in to your Xero account. Once signed in, authorize the connection and you will be ready to get started!

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Create your Veem account The simplest way to send and receive business payments.

Sending Payments through Veem

Sending payments with Veem is easy and straightforward. You can send payments through Veem that will connect to your QuickBooks Online or Xero account to help make reconciliation easy and automatic.

Additionally, you can take advantage of some other Veem features to help with make your global payments easy, secure and affordable:

Mass Pay

If you are looking to send a large number of payments easily, you can take advantage of Veem’s Mass Pay feature. Simply download our CSV template, populate the payment instructions and upload it to your Veem account on the Mass Pay page, accessible from your Veem Dashboard. Your payments will be processed by our operations team and will be sent directly to your payees on the date you’ve indicated to process.

Scheduled Payments

If you are looking to save time on processing multiple payments over the course of a month or two, scheduled payments might be a good option for you. You can complete all of the information required to initiate a payment today, but it will automatically send out on the day you indicate on your transaction page.

Sending Payments — Quickbooks

Veem’s two-way integration with QuickBooks Online supports the ability to pay and update bills in two distinct ways. Bills created in QBO will automatically sync with Veem, allowing the bill-payment to be initiated from the Veem dashboard. Alternatively, you can create a payment in Veem and choose to have a corresponding bill automatically created in QBO.

Once you have connected Veem and QuickBooks Online, you will see all of your bills that were open in QuickBooks. This pull of information will happen in real time, so whenever you create a new bill in QuickBooks, it will also be visible on Veem. You are able to edit which bills are visible in your Veem account and which aren’t through the Integrations tab in your Veem settings.

Create your Veem account The simplest way to send and receive business payments.

Additionally, if you would rather use Veem’s payment flow to send your payments, you can do so while also creating a bill in QuickBooks. To do this, you will just need to select the dropdown arrow and click Send Payment and Create Bill. You will be able to send a regular Veem payment, create a new QuickBooks contact, or connect the payment to an existing QuickBooks contact. Complete your transaction information, add the funding account you would like to track the bill in, and the payment will be on its way. The bill will appear in QuickBooks Online when the payment is withdrawn from your client’s bank account.

Sending Payments — Xero

Veem’s two-way integration with Xero supports the ability to pay and update bills in two distinct ways. Bills created in Xero will automatically sync with Veem, allowing the bill-payment to be initiated from the Veem dashboard. Alternatively, you can create a payment within Veem and choose to have a corresponding bill automatically created in Xero.

Once you have connected Veem and Xero, you will see all of your bills that were open in Xero. This pull of information will happen in real time, so whenever you create a new bill in Xero, it will also be visible on Veem. You are able to edit which bills are visible in your Veem account and which aren’t through the Integrations tab in your Veem settings.

Create your Veem account The simplest way to send and receive business payments.

Additionally, if you would rather use Veem’s payment flow to send your payments, you can do so while also creating a bill in Xero. To do this, you will just need to select the dropdown arrow and click Send Payment and Create Bill. You will be able to send a regular Veem payment, create a new Xero contact, or connect the payment to an existing Xero contact. Complete your transaction information, add the funding account you would like to track the bill in, and the payment will be on its way. The bill will appear in Xero when the payment is withdrawn from your client’s bank account.

Getting Paid with Veem

Veem not only allows multiple rails and methods to pay your contacts, but also a number of ways to request payment from contacts. When you request a payment through Veem, all transactions will be directly deposited into your account, using the currency provided on sign up. With Veem’s core product, there are 3 different ways to easily start getting paid by your customers and clients.

Simplified Invoice Creation

First, Veem allows you to create invoices from scratch. You can include line items, discounts and additional fees, along with payment terms and scheduled sending, all combined and published into a PDF, making it easy for customers to see and file their payments as necessary. This invoice is then sent to your customer’s email address, along with instructions to claim and pay the invoice through Veem. If they are reluctant or unable to sign-up for an account with Veem, they’ll also see instructions to send a payment directly from their bank to a Veem collection account.

Get Paid

If you have already created your invoice through another program, but still want to request payment through Veem, you can take advantage of Veem’s Get Paid function. Here, you can attach your invoice, set your due date and add the total due, and an email will be sent to your customer.

Customizable Pay Link

Lastly, if you are looking for a more general and adaptable way to ask for payment, your customizable Pay Link is the solution for you. This link leads to a custom landing page, where you can adjust descriptions, logos and backgrounds to match your brand. On this page, customers can enter the amount they are expected to pay, attach their invoice and send!

Requesting Payment with Quickbooks Online

Once you have connected your Veem and QuickBooks online accounts, just as with your open bills, your open invoices will be pulled onto your Veem dashboard.

Sending QuickBooks Online invoices with Veem will result in 2 actions. First, the customer will receive a QuickBooks online invoice email, similar to the process if the invoice was initiated through QuickBooks online itself. This invoice will include a link that will bring the customer to the payment request landing page, where they can pay their bill through their Veem account.

Additionally, there will be a reminder email from Veem, notifying them that the bill is to be paid through the Veem network.

To send out your invoice through Veem, simply click Send on the right hand side of the invoice field from your Veem QuickBooks Dashboard.

Getting Paid through Xero with Veem

When you connect your Veem and Xero accounts, you will immediately be able to start getting paid through Veem on all of your future Xero invoices.

Our integration creates a Veem Payment Option, allowing you to provide customers with a Pay with Veem button. Customers can pay their invoices directly through the Veem network, saving your clients both time and money.

Create your Veem account The simplest way to send and receive business payments.

Accepting and Paying an Invoice with Veem

Veem understands that sometimes you have a client that prefers to pay the way they want to pay. With Veem’s Guest Pay feature, your clients will always be given the option to review instructions indicating how they can pay directly from their bank without ever signing up for an account with Veem.

To see what accepting your first payment will look like to a guest payer, refer to the images on the right.

Create your Veem account The simplest way to send and receive business payments.

Veem Certification

The following questions will test your knowledge of Veem’s processes and platform. Once completed, you will be directed to a form to recieve your Veem Advisor Certification Badge!

Veem Advisor Training and CertificationVeem Payments Best Platform Business payments 2023