Company mergers and acquisitions

• Changing the company name
• Implementing a new Business ID
  • Merging into a company that already has a Maventa account
  • Transition phase management and consolidated billing
  • Terminating an old Business ID and departing account
  • Connection to accounting software

Corporate restructurings, such as mergers or name changes, often require updates to billing settings and company account information. The procedure depends on whether the company's official Business ID changes or only its name.

Changing the company name

If the company's Business ID remains the same and only the company name changes, there is no need to create a new account. Name information is updated on the current company account in the Company details section of the account settings using these instructions: Company settings.

If the company’s accounting software is connected to Maventa, the name can also be updated through the software, provided that the software supports this. Technical details for software providers: Configure account settings.

Implementing a new business ID

If a corporate restructuring results in a new Business ID for the company, a new Maventa account must be established. Opening a new account can be done either directly through the accounting software in use or alternatively via the Maventa user interface. Technical details for software providers: How to open and activate company accounts.

If the new account is registered through Maventa, the registration method depends on whether the person performing the registration already is an existing admin user in the service. Existing admins in Maventa can create a new company by logging in to the service and using these instructions: Creating new company.

If the person performing the registration is not yet an existing admin user, the registration is done via the Maventa registration page using these instructions: Deployment and registration.

Merging into a company that already has a Maventa account

In many mergers, one company is absorbed into another company that continues with its existing Business ID. If the continuing company already has a Maventa account, no new account is needed, and the existing account remains in use as before.

The account of the absorbed company goes through the transition phase described below and is then terminated.

Each Business ID can have only one account in Maventa. A Business ID that already has an active account cannot be registered again. Technical details for software providers: Existing company.

Transition phase management and consolidated billing

During the transition phase, it is recommended to keep both the old and new accounts open simultaneously. This allows for the continued use of the old EIA (Electronic invoicing address) identifier and the viewing of invoice history until all processes have been transferred to the new identifier.

Maventa automatically disables accounts that have had no transactions in the past 13 months. An email alert is sent after 12 months of inactivity. This should be taken into account if the old account remains open for a long time without sending or receiving invoices. If the company's accounting software is connected to Maventa, the account can also be kept active through the software. Technical details for software providers: Keep Active.

Consolidated billing (Billing through another company) can be set up for the account to be closed. This ensures that the new account acts as the primary target for billing and prevents the use of the incorrect Business ID in invoicing. Please note, however, that consolidated billing can only be set up for Finnish and Swedish companies.

Consolidated billing is set up by navigating to the Billing Information section of the account settings using these instructions: Company settings. If the company’s accounting software is connected to Maventa, consolidated billing may also be set up through the software. The same user must have access to both company accounts.

Terminating an old Business ID and departing account

When the old Maventa account is no longer needed, an admin user or a person with official signing rights must submit an official notice of termination. Maventa verifies signing rights from official registers when necessary, and the termination is confirmed using an electronic Visma Sign form.  It is important to note that after termination, the account's invoice history can no longer be accessed; therefore, necessary materials must be downloaded and saved before the account is disabled.

Maventa retains invoices for the current and previous year, roughly two years. Maventa is not a long-term archive, so invoices required for bookkeeping should be stored in the company’s own system. More information: Data retention.

Detailed instructions for terminating an account can be found here: Termination.

Connection to accounting software

A new account is a separate account in Maventa, and no settings carry over from the old account. If the company's accounting software is connected to Maventa, the connection must be set up again for the new account:

• Connection details: the accounting software must be updated with the new account’s details. The software provider can advise on how this is done.

• Link to the software: the software provider links the new account to their software. Once the old account has been terminated, the link to the old account should be removed. Technical details: Existing company.

• Notifications: if the software receives automatic notifications from Maventa, these must be set up again for the new account. Technical details: Webhooks for a single company.

• Peppol registration: to receive invoices through the Peppol network, the new account must be registered in the network. Technical details: Registering as a Peppol receiver and Register company as Peppol receiver.

• Electronic invoicing address: the new account’s electronic invoicing address is based on the new Business ID. Technical details: Supported countries and identifiers.

If the company uses more than one software with Maventa, each one is linked to the account separately and must be set up again for the new account. Technical details: Several integrations for one company.