if vs700r synth is fantom or ARX module inside the vs-700r, and it is ...
... set-up using an instrument track, all you need to do is freeze the track but disable the 'fast bounce' option (right click on freeze button, select freeze options...), you get the wav file on top of your instrument track which can also be found in your audio folder
... set-up using one MIDI and one audio track (with MIDI OUT routed to FANTOM, AUDIO IN is set to FANTOM), just record the audio track while playing back (it is virtually the same as a 'slow' or audible freeze)
It remains all digital of course. No need to plug any cables ...