The Transition to the Euro: What Are the Challenges and How Will nZoom Help You Meet the Requirements?
Dual Price Display
According to the provisions of the Law on the Introduction of the Euro in the Republic of Bulgaria, one month after the final EU decision, businesses will be required to display end-user prices in both BGN and EUR. This applies to documents, websites, and promotional materials.
The dual price display period will continue throughout the entire first calendar year after the euro is officially introduced and is aimed at protecting the interests of consumers.
An important exception in the legislation concerns documents under Article 112, Paragraph 1 of the VAT Act — such as invoices and credit/debit notes — which typically govern B2B financial transactions. These are exempt from the dual display requirement.
In short, the goal of dual price display is to present the final price clearly, unambiguously, and in an easily understandable way, showing its equivalent in the second currency (EUR until 31.12.2025, BGN after 01.01.2026).
The law also requires:
- Identical font and size for both prices
- Side-by-side placement of the BGN and EUR amounts
How nZoom Will Support Your Business
Automatic Dual Display in All Templates
All printed templates generated from nZoom — including pro forma invoices, tax invoices, credit and debit notes, quotes, and others — will include the equivalent value in EUR, calculated using the official fixed conversion rate.
Visual Compliance by Design
- Identical font and size for both currencies
- Logical and clean layout
- Proper labels (лв / €)
- Display of the fixed conversion rate for transparency
Flexible Display Settings
On request, clients will be able to enable or hide dual display for certain document types, based on the legal requirements or internal policies.
Currency Conversion from January 1, 2026
On January 1, 2026, all amounts in BGN must be converted to EUR using the fixed conversion rate:
1 EUR = 1.95583 BGN.
The law requires amounts to be divided exactly by the rate, without rounding beforehand. The result must then be rounded to two decimal places using standard mathematical rounding.
An exception applies to employee salaries, which must always be rounded up when a third decimal exists.
What nZoom Will Offer:
- Two built-in conversion formulas:
– One for standard financial conversions
– One for salary and compensation conversion with rounding up - Support for high-precision values with more than two decimal places (e.g. for raw materials).
- Automatic recalculation of balances and reports from past periods in line with legal requirements.
- System-wide currency switch from BGN to EUR effective from 01.01.2026.
- Automatic generation of annexes for contracts with recurring invoicing, including currency updates and recalculations based on the official rate.
Existing Documents and Reports
According to the law, existing contracts and internal documents do not require mandatory updates — BGN values will be considered valid after recalculation into EUR.
However, amendments to bylaws, partnership agreements, founding acts, rules, procedures, or other internal documents that reference BGN values must be updated within 12 months (i.e. by December 31, 2026) if those values are still in use.
What We Will Provide:
- Historical BGN data retention, with automatic EUR equivalents calculated.
- Clear distinction between pre- and post-euro reporting periods, while maintaining full comparability.
- Automatic conversion of accounting balances using the official rate, with legal rounding rules applied.