Handling International Payments has become more common with the globalization of business.
This week on the QB ‘Appy Hour we explored international payments, exchange needs, industries and turn-around time with special guest, fellow ProAdvisor Kelly Gonsalves of Totally Booked. Kelly’s firm deals with many clients whose businesses needs include international payments. She walked us through how she is handling clients with international payment needs.
International businesses are everywhere. It’s common for a retail store to purchase goods overseas or an e-Commerce business to have supplies in other countries. Traditionally, bank wires were the only method of fund transfers. Over the years several international payments services have provided an alternative to wire transfers but with a high cost.
Reducing the cost of international payments is one objective these businesses seek to help decrease costs. While you can keep track of exchange rates in QuickBooks Online it can create a bookkeeping nightmare.
Industries and Turn-Around Time of International Payments
This growing need to find a fast and less expensive solution has affected many businesses. While artists may need to sell their goods globally, a manufacturing company may need to order parts. Even contractors many perform services virtually and need a method for accepting international payments.
How Kelly Handles International Payment Needs for her Clients
Kelly uses Veem. She has partnered with them to create a painless, less costly and faster method of handling global payments. No matter if you are paying bills or collecting invoice payments Veem can solves for both types of payments for her clients.
Veem has actively listened to the ProAdvisor community and created easy to use accountant dashboards. Veem also has easy to understand payment status updates which can be both emailed and visible on the dashboard. They also understand many companies need to connections to other systems so they many integrations.
Veem offers payments for over 90 countries. By using an app like Veem you can solve the pain of global payments.
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