diff --git a/account_banking_pain_base/migrations/8.0.0.2/post-migration.py b/account_banking_pain_base/migrations/8.0.0.2/post-migration.py
index eae959b03..bb6322681 100644
--- a/account_banking_pain_base/migrations/8.0.0.2/post-migration.py
+++ b/account_banking_pain_base/migrations/8.0.0.2/post-migration.py
@@ -21,10 +21,12 @@
 
 from openerp.addons.account_banking_pain_base.post_install\
     import set_default_initiating_party
+from openerp import pooler
 
 
 def migrate(cr, version):
     if not version:
         return
 
-    set_default_initiating_party(cr, None)
+    pool = pooler.get_pool(cr.dbname)
+    set_default_initiating_party(cr, pool)
diff --git a/account_banking_pain_base/models/res_company.py b/account_banking_pain_base/models/res_company.py
index 465984559..bb656b55a 100644
--- a/account_banking_pain_base/models/res_company.py
+++ b/account_banking_pain_base/models/res_company.py
@@ -22,7 +22,10 @@
 #
 ##############################################################################
 
-from openerp import models, fields
+from openerp import models, fields, api
+import logging
+
+logger = logging.getLogger(__name__)
 
 
 class ResCompany(models.Model):
@@ -36,3 +39,33 @@ class ResCompany(models.Model):
         string='Initiating Party Identifier', size=35,
         help="This will be used as the 'Initiating Party Identifier' in "
         "the PAIN files generated by Odoo.")
+
+    @api.model
+    def _default_initiating_party(self, company):
+        '''This method is called from post_install.py, which itself is also
+        called from migrations/8.0.0.2/post-migration.py'''
+        party_issuer_per_country = {
+            'BE': 'KBO-BCE',  # KBO-BCE = the registry of companies in Belgium
+        }
+        logger.debug(
+            'Calling _default_initiating_party on company %s', company.name)
+        country_code = company.country_id.code
+        if not company.initiating_party_issuer:
+            if country_code and country_code in party_issuer_per_country:
+                company.write({
+                    'initiating_party_issuer':
+                    party_issuer_per_country[country_code]})
+                logger.info(
+                    'Updated initiating_party_issuer on company %s',
+                    company.name)
+        party_identifier = False
+        if not company.initiating_party_identifier:
+            if company.vat and country_code:
+                if country_code == 'BE':
+                    party_identifier = company.vat[2:].replace(' ', '')
+            if party_identifier:
+                company.write({
+                    'initiating_party_identifier': party_identifier})
+                logger.info(
+                    'Updated initiating_party_identifier on company %s',
+                    company.name)
diff --git a/account_banking_pain_base/post_install.py b/account_banking_pain_base/post_install.py
index 2ae817710..d48fd2f63 100644
--- a/account_banking_pain_base/post_install.py
+++ b/account_banking_pain_base/post_install.py
@@ -20,38 +20,13 @@
 #
 ##############################################################################
 
+from openerp import SUPERUSER_ID
 
-def set_default_initiating_party(cr, registry):
-    party_issuer_per_country = {
-        'BE': 'KBO-BCE',  # KBO-BCE = the registry of companies in Belgium
-    }
-    cr.execute('''
-        SELECT
-            res_company.id,
-            res_country.code AS country_code,
-            res_partner.vat,
-            res_company.initiating_party_identifier,
-            res_company.initiating_party_issuer
-        FROM res_company
-        LEFT JOIN res_partner ON res_partner.id = res_company.partner_id
-        LEFT JOIN res_country ON res_country.id = res_partner.country_id
-        ''')
-    for company in cr.dictfetchall():
-        country_code = company['country_code']
-        if not company['initiating_party_issuer']:
-            if country_code and country_code in party_issuer_per_country:
-                cr.execute(
-                    'UPDATE res_company SET initiating_party_issuer=%s '
-                    'WHERE id=%s',
-                    (party_issuer_per_country[country_code], company['id']))
-        party_identifier = False
-        if not company['initiating_party_identifier']:
-            if company['vat'] and country_code:
-                if country_code == 'BE':
-                    party_identifier = company['vat'][2:].replace(' ', '')
-            if party_identifier:
-                cr.execute(
-                    'UPDATE res_company SET initiating_party_identifier=%s '
-                    'WHERE id=%s',
-                    (party_identifier, company['id']))
+
+def set_default_initiating_party(cr, pool):
+    company_ids = pool['res.company'].search(cr, SUPERUSER_ID, [])
+    companies = pool['res.company'].browse(cr, SUPERUSER_ID, company_ids)
+    for company in companies:
+        pool['res.company']._default_initiating_party(
+            cr, SUPERUSER_ID, company)
     return