Using your business bank account may not always be an efficient way to manage all your financial obligations. We’ve discovered a new approach for B2B money transfers and implementing it in your company might provide an ideal solution. Veem software provides broad access to tools designed for online global payments and pricing. Including the ability for you to create invoices, send or spend funds and hold transactions in over 110 countries makes this a robust application that’s highly suitable for business transactions and syncing them with accounting software.
Utilizing Veem Software Offers Efficiency
Sending a traditional bank wire involves a significant amount of information and can cost you lots of money. Utilizing a technology operating on the blockchain allows each transaction to work efficiently. Having a digital ledger involved in the process helps ensure each transaction is made securely and safely. Using this application eliminates the hassle and expense of wire transfers, saving you a bundle of money and precious time. Skipping the use of a banking institution will also help eradicate high processing fees.
Examining Features and Benefits
One of the most significant benefits of using this application for processing payments is the free cost. It can get quite expensive to send several international wires between a customer and vendor. Having the ability to avoid high fees and banking efficiencies is a win-win situation for you and the recipient you’re paying. In addition, adding Veem software to your pre-existing processes for payments should be highly efficient. It makes sense for you to try this solution for transactions involving payments and invoicing.
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Veem Integrations With Other Software
Accounting software solutions, such as NetSuite, Xero, or QuickBooks Online, make it much more efficient to correctly and effectively track business transactions. Knowing you can integrate these three popular accounting software applications with Veem software should prove highly advantageous when you want to record transactions quickly and easily.
QuickBooks
Entering bills into QuickBooks and logging into your Veem software dashboard allows you to automatically update billing once the status has been moved to “paid.” Having this integration helps make global transactions quick and simple. The two-way synchronization when using Veem software allows bills to be approved and created with a simple click. Quickbooks bookkeepers can also assist you in streamlining your processes.
Xero
Using Xero to get a real-time view of your cash flow can be essential in ensuring your company is headed on the right track. Integrating this application with Veem software also makes it less expensive and more efficient to complete global transactions.
NetSuite
Integrating with NetSuite and NetSuite OneWorld helps eliminate the lengthy and tedious process required to record transactions when paying global suppliers manually. Having this integration set up allows you to keep working and not alter your current workflow every time a transaction is created.
Veem Software Competitors
Several competitors are available in the payment processing software space. Venmo for Business, Square Payments, and Stripe Payments are a few of them. However, one of the main disadvantages of using these applications is the cost of processing fees. Using Veem software is completely free, allowing your business to save a significant amount of money throughout the year. The only expense you’ll pay is a $20 fee if a receiver decides to get a US dollar international wire outside of the United States.
Simplifying global business payments and saving money in wire fees should help boost efficiency and increase your bottom line. Here at Fusion CPA, we want to assist you in taking advantage of this type of software solution, making it more efficient to get your work completed correctly and affordably. If you have any questions about using this application, be sure to call us today. We’d be happy to discuss your options.
This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.
