The auditors should convert these figures to euro for next year's comparison. However, as Beatty Jeweller bank account is in euro, euro denominated cheques will be used in settlement of accounts. Bank reconciliation can be done using the punt counter value on the bank statements. As suppliers change over, transfer their euro transactions into euro-only books for VAT and analysis. Ignore rounding differences resulting from conversions from Punts to euro and set a new opening balance equal to the sum of the individual accounts.
Revenue require a month's notice.
Commence VAT returns in euro. Make Corporation and Capital Gains tax returns in euro. Wages are currently calculated and paid weekly. It is not intended to present the amounts on pay-slips in both currencies. Staff will be able to verify the conversions themselves using calculators.