Section 3

Entries shall be made using the double entry method, whereby any movement or variation recorded in the accounts shall be represented by an entry establishing an equivalence between the amount debited and the amount credited in the various accounts affected by that entry. The euro counterpart of a transaction denominated in a currency other than the euro shall be calculated and entered in the accounts. Transactions in foreign currencies in accounts which can be revalued shall be revalued at least each time the accounts are closed. That revaluation shall be based on the rates laid down in accordance with Article 6. The rate to be used for conversion between the euro and another currency to draw up the balance sheet at 31 December of year N shall be that of the last working day of year N. The Union accounting rules adopted under Article 152 of the Financial Regulation shall specify the conversion and re-evaluation rules to be provided for the purposes of accrual accounting. All accounting records shall specify the origin, content and booking reference of each data item and the references of the relevant supporting documents. Accounting operations shall be recorded in the journal by one of the following methods, which are not mutually exclusive: day by day, operation by operation; in the form of a monthly summary of the total amounts involved in operations, provided that all documents allowing verification of individual operations day by day are kept. Entries in the journal and in sub-ledgers shall be made final by means of a validation procedure prohibiting any change to or deletion of the entry. A closure procedure designed to freeze the chronology of records and guarantee their inviolability shall be implemented at the latest before the final financial statements are presented.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.