Xero Integration

User Guide

Summary

Use the Xero connection to Veem to pay international suppliers. The Veem app makes it easy to
send payments and gives you more time to spend doing the things you love.

 

Start by signing up for an account with Veem here.

What does the Veem App do?

What does the Veem App do?

 

Once you authorize the connection, the app will…

 

  1. Import your suppliers.
  2. Create a new Veem ‘bank’ in the chart of accounts.
  3. Import your open bills.

 

When you pay a bill in Veem, the app will…

 

  1. Set the accounts payable entry as ‘paid’ and update the real exchange rate on the bill payment.
  2. Add the Veem ID to the Bill Payment and the Xero bank reconciliation report.
  3. Automatically debit funds from the bank account and pay the supplier.

 

Veem + Xero Data Flow Diagram

 

 

Veem + Xero data flow diagram

How do I connect Xero to Veem?

How do I connect Xero to Veem?

 

  • You can connect Xero with Veem by clicking here.

 

  • or when you are logged in your Veem account under Settings/Integrations.

 

 

  • Click on Xero Connect and Authorize the sharing of your data between Veem and Xero.

 

Authorize the sharing of your data between Veem and Xero

How do I configure the new Veem ‘Bank’ in my Chart of Accounts?

How do I configure the new Veem ‘Bank’ in my Chart of Accounts?

 

The Veem integration creates a new Veem ‘bank’ to enable you to track transactions paid through Veem. You can make this new bank a sub account of the bank account you pay your international transactions from by doing this:

 

  • Search for Veem in Chart of Accounts.

 

Veem clearing account in Xero chart of accounts.

 

  • Click Edit.

 

Editing Veem account in Xero chart of accounts.

Do I need to set up Xero multi-currency to let me pay multi-currency bills?

Do I need to set up Xero multi-currency to let me pay multi-currency bills?

 

If you are being invoiced by an overseas supplier in USD – you may not need to set up Xero multi-currency.

 

If you are being invoiced in a foreign currency and would like to record the foreign exchange gain or loss then multi-currency may be helpful.

 

Here is a link to the Xero multi-currency setup guide and some of the important considerations to make before switching it on.

How do I pay my bills in Veem?

How do I pay my bills in Veem?

 

Entering your bills in Xero

 

Enter your bills the way you always do it in Xero. Note that in order to process payments, Veem needs at a minimum the following information for your supplier. Please update your supplier’s information in Xero if necessary.

 

  • First and last name of your supplier
  • Email address
  • Phone number
  • Country ISO 2 digit code
    • Change ISO codes here.

 

Fill out contact info in Xero

 

If any of these fields are missing, Veem will display an error message – no worries, you’ll just need to update the information in Xero for the error message to disappear.

 

 

Pay your bills in Veem

 

You will notice a new ‘Xero’ tab in your Veem dashboard.

 

  • Select the bills you want to pay and click ‘send’ to pay them.
  • Bills sent for payment will automatically be removed from the Xero tab and show in the outgoing tab.

 

Xero Tab

Paid bills automatically update in Xero.

 

Once paid, Veem automatically updates the bill status to ‘paid’ in Xero. Veem payment details are also saved in the payment notes for even easier reconciliation.

 

 

Bill paid with Veem ID in Xero

How do I disconnect the Veem App from Xero?

How do I disconnect the Veem App from Xero?

 

To disconnect your Xero account from Veem:

  1. Navigate to the Settings > Integrations page in Veem.
  2. Click ‘Disconnect’.

 

 

Disconnect Xero from Veem