The spelling of the word "veliz" is quite straightforward when taking a look at its IPA phonetic transcription. The word is pronounced as /vəlɪz/. This means that the first sound is a schwa, represented by the upside-down 'e'. The 'v' sound follows, then the 'l' and 'ɪ' sound, which is an 'i' sound. And finally, a 'z' sound completes the word. It is important to pay attention to IPA phonetic transcriptions to ensure correct pronunciation and spelling of words.