Company mergers and acquisitions
This article provides guidance on managing corporate restructurings within the Maventa service. The instructions cover opening a new account required by a new Business ID, updating a name change for an existing account, and managing the transition phase. Additionally, it provides guidance on the official termination process for a departing account.
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.
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.
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.
📌 It is not possible to change a Business ID once it has been defined for a Maventa account. If a company's Business ID changes, for example due to a change in legal form or a merger, a completely new account with the up-to-date Business ID must always be registered
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.
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.
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.
Detailed instructions for terminating an account can be found here: Termination.