Transition to the Euro: Preparation for Businesses

Is Your Company Ready for the Euro? A Practical Guide for Accountants and Managers

As January 1, 2026 approaches – the date on which Bulgaria will introduce the euro as its official currency – every company must take specific steps to ensure a smooth transition to the new monetary unit. This is not just a change of symbols on labels – it is a comprehensive organizational and accounting transition affecting cash registers, accounting documents, pricing, registers, and relationships with customers and suppliers.

In this article you will find practical information, aligned with the latest versions of the national plan, the draft law on the introduction of the euro, and the guidelines of the Ministry of Finance, the BNB, the NRA and the CPC.

 Sign up for a cashier course: Working with euro banknotes and coins

Dual Pricing: Law, Practice, and Psychology

Mandatory Requirement

According to the National Plan for the Introduction of the Euro:

• All traders, service providers, and institutions that work with customers will be required to apply dual pricing – in leva and euros.

• The period: 6 months before the introduction of the euro and 12 months after that.

• The rate: fixed, determined by the Council of the EU, expected to be 1 euro = 1.95583 BGN.

Consumer Perception and Risk of Distrust

Studies in other countries show that consumers often perceive price changes with suspicion, which may lead to a decline in trust and even a boycott of products.

What should you do:

• Create a software function for dual display on receipts and invoices.

• Prepare label templates with clearly distinguished currency values, without confusing symbols.

• Use explanatory text under each price:

  "Calculated at the fixed rate 1 EUR = 1.95583 BGN"

Cash Registers and Fiscal Software: Technical Adaptation

 Update of Fiscal Devices

• According to the expected amendments to Ordinance H-18, all cash registers and software used in trade must be updated.

• There will also be changes to the format of Z reports, which are expected to contain:

  • Turnover in both currencies

  • Total turnover

  • Summary of payments in leva and euros

 Requirements for Receipts

• In the first 30 days of the transition – the dual circulation period – receipts will show:

  • Received in leva

  • Change returned in euros

  • Total amount in euros

 What should you do:

• Contact your cash register device provider and ask for information about support and required updates.

• Plan the budget for new devices if the current ones cannot be updated via software.

• Test the Z reports with sample data before the transition.

Accounting and Document Management: Transition with Minimal Risk

 Balances, Assets, and Capital

• On the date of the transition, all accounting values will be converted to euros with precision to the second decimal place.

• Capital will be calculated at the fixed rate and mathematically rounded. For example:

  • 10,000 BGN = 5112.92 EUR

• The changes must be reflected in the articles of association and filed with the Commercial Register.

 Invoices and Contracts

• Until the date of transition – invoices are in leva

• After that – mandatory in euros

• For credit notes and corrections – convert according to the date of the original transaction.

 What should you do:

• Update the accounting software and archive the current balances in leva.

• Inform counterparties and clients about the changes in the contract terms.

• Check all long-term contracts that explicitly state amounts in leva – propose addenda.

Changes in the Commercial Register and Administrative Actions

 Changes You Need to File

• Share capital – must be converted to euros

• Change of names of documents, stamps, registers, etc.

• All administrative procedures will be carried out through the electronic portal of the Registry Agency

 Deadlines

• Within 12 months after the date of introduction, companies are obliged to:

  • submit the changes

  • attach articles updated to the new currency

  • pay the relevant state fees

 What should you do:

• Prepare a draft addendum to the founding act.

• Review the templates of all internal documents, including contracts, reports, and offers.

• Plan a legal or accounting consultation before submitting.

The First Month After the Transition: Dual Circulation in

What Does Dual Circulation Mean?

• From date T (e.g. 01.01.2026) to T+30 days:

  • The lev and the euro will both be legal tender at the same time

  • Acceptance of both currencies is mandatory for all traders

  • Change is returned only in euros

 How to Prepare

• Exchange part of the cash on hand into euros through the bank

• Inform staff with an internal guide for returning change and reporting

• Prepare visual materials at the retail location

Bonus: How to Recognize Fake Euro Banknotes?

During the first months after the transition, traders, cashiers, and customers will be especially vulnerable to counterfeit banknotes. Not knowing the security features and lacking training can lead to:

• Financial losses

• Reputational risk

• Problems with the NRA and auditors

That is why we recommend our specialized training:

Working with Euro Banknotes and Coins: Identification and Authenticity Verification

 Learn:

• How to recognize genuine euro banknotes and coins

• How to use light, touch, and tilt for verification

• What the security features of the „Europa“ series are

• How to train your staff

Fully accessible online.
With examples, exercises, and knowledge checks.
Suitable for accountants, cashiers, managers, and administrators.

Conclusion

The introduction of the euro is an inevitable and important process that affects every organization in Bulgaria – from a small shop to a large corporation. Do not wait until the last moment. Prepare systematically, professionally, and confidently.

Start today with the first step – ensure the security of the cash flow:

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