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.
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:
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.
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.
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.
You will notice a new ‘Xero’ tab in your Veem dashboard.
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.
To disconnect your Xero account from Veem: