In a large bowl, beat the vegan cream cheese and butter with an electric mixer until smooth.

Add the powdered sugar and vanilla and beat on low speed to incorporate, then increase the speed to medium and mix until smooth. If you prefer a stiffer frosting, beat in additional powdered sugar, 1 tablespoon at a time, until it reaches your desired consistency.

Spread on cooled baked goods right away, or store in an airtight container in the refrigerator for up to 5 days.