diff --git a/erpnext/accounts/doctype/account/account.js b/erpnext/accounts/doctype/account/account.js
index a77bce5..2577ccf 100644
--- a/erpnext/accounts/doctype/account/account.js
+++ b/erpnext/accounts/doctype/account/account.js
@@ -14,7 +14,7 @@
 		'credit_days', 'credit_limit', 'tax_rate'], doc.group_or_ledger=='Ledger')	
 		
 	// disable fields
-	cur_frm.toggle_enable(['account_name', 'group_or_ledger', 'is_pl_account', 'company'], false);
+	cur_frm.toggle_enable(['account_name', 'group_or_ledger', 'company'], false);
 	
 	if(doc.group_or_ledger=='Ledger') {
 		frappe.model.with_doc("Accounts Settings", "Accounts Settings", function (name) {
@@ -52,7 +52,7 @@
 		in_list(['Customer', 'Supplier'], doc.master_type));
 }
 
-cur_frm.add_fetch('parent_account', 'is_pl_account', 'is_pl_account');
+cur_frm.add_fetch('parent_account', 'report_type', 'report_type');
 
 cur_frm.cscript.account_type = function(doc, cdt, cdn) {
 	if(doc.group_or_ledger=='Ledger') {
diff --git a/erpnext/accounts/doctype/account/account.py b/erpnext/accounts/doctype/account/account.py
index 7ba57ab..4c3e4d1 100644
--- a/erpnext/accounts/doctype/account/account.py
+++ b/erpnext/accounts/doctype/account/account.py
@@ -48,7 +48,7 @@
 	def validate_parent(self):
 		"""Fetch Parent Details and validation for account not to be created under ledger"""
 		if self.doc.parent_account:
-			par = frappe.db.sql("""select name, group_or_ledger, root_type 
+			par = frappe.db.sql("""select name, group_or_ledger, report_type 
 				from tabAccount where name =%s""", self.doc.parent_account, as_dict=1)
 			if not par:
 				throw(_("Parent account does not exists"))
@@ -57,8 +57,8 @@
 			elif par[0]["group_or_ledger"] != 'Group':
 				throw(_("Parent account can not be a ledger"))
 				
-			if par[0]["root_type"]:
-				self.doc.root_type = par[0]["root_type"]
+			if par[0]["report_type"]:
+				self.doc.report_type = par[0]["report_type"]
 	
 	def validate_duplicate_account(self):
 		if self.doc.fields.get('__islocal') or not self.doc.name:
@@ -121,8 +121,8 @@
 			and docstatus != 2""", self.doc.name)
 	
 	def validate_mandatory(self):
-		if not self.doc.is_pl_account:
-			throw(_("Is PL Account field is mandatory"))
+		if not self.doc.report_type:
+			throw(_("Report Type is mandatory"))
 			
 	def validate_warehouse_account(self):
 		if not cint(frappe.defaults.get_global_default("auto_accounting_for_stock")):
@@ -203,12 +203,12 @@
 				throw(_("Account ") + new +_(" does not exists"))
 				
 			val = list(frappe.db.get_value("Account", new_account, 
-				["group_or_ledger", "is_pl_account", "company"]))
+				["group_or_ledger", "report_type", "company"]))
 			
-			if val != [self.doc.group_or_ledger, self.doc.is_pl_account, self.doc.company]:
+			if val != [self.doc.group_or_ledger, self.doc.report_type, self.doc.company]:
 				throw(_("""Merging is only possible if following \
 					properties are same in both records.
-					Group or Ledger, Debit or Credit, Is PL Account"""))
+					Group or Ledger, Report Type, Company"""))
 					
 		return new_account
 
diff --git a/erpnext/accounts/doctype/account/account.txt b/erpnext/accounts/doctype/account/account.txt
index 7c31998..17d77f9 100644
--- a/erpnext/accounts/doctype/account/account.txt
+++ b/erpnext/accounts/doctype/account/account.txt
@@ -2,7 +2,7 @@
  {
   "creation": "2013-01-30 12:49:46", 
   "docstatus": 0, 
-  "modified": "2014-03-07 16:26:42", 
+  "modified": "2014-03-19 12:07:27", 
   "modified_by": "Administrator", 
   "owner": "Administrator"
  }, 
@@ -95,18 +95,6 @@
  }, 
  {
   "doctype": "DocField", 
-  "fieldname": "is_pl_account", 
-  "fieldtype": "Select", 
-  "in_filter": 1, 
-  "label": "Is PL Account", 
-  "oldfieldname": "is_pl_account", 
-  "oldfieldtype": "Select", 
-  "options": "Yes\nNo", 
-  "read_only": 1, 
-  "search_index": 1
- }, 
- {
-  "doctype": "DocField", 
   "fieldname": "company", 
   "fieldtype": "Link", 
   "in_filter": 1, 
@@ -137,10 +125,10 @@
  }, 
  {
   "doctype": "DocField", 
-  "fieldname": "root_type", 
+  "fieldname": "report_type", 
   "fieldtype": "Select", 
-  "label": "Root Type", 
-  "options": "\nAsset\nLiability\nExpense\nIncome"
+  "label": "Report Type", 
+  "options": "\nBalance Sheet\nProfit and Loss"
  }, 
  {
   "description": "Setting Account Type helps in selecting this Account in transactions.", 
@@ -151,7 +139,7 @@
   "label": "Account Type", 
   "oldfieldname": "account_type", 
   "oldfieldtype": "Select", 
-  "options": "Bank or Cash\nTax\nChargeable\nWarehouse\nReceivable\nPayable\nEquity\nFixed Asset\nCost of Goods Sold\nExpense Account\nIncome Account", 
+  "options": "Bank\nCash\nTax\nChargeable\nWarehouse\nReceivable\nPayable\nEquity\nFixed Asset\nCost of Goods Sold\nExpense Account\nIncome Account\nStock Received But Not Billed\nExpenses Included In Valuation\nStock Adjustment", 
   "search_index": 0
  }, 
  {
diff --git a/erpnext/accounts/doctype/cost_center/cost_center.js b/erpnext/accounts/doctype/cost_center/cost_center.js
index d271ab3..5c8be10 100644
--- a/erpnext/accounts/doctype/cost_center/cost_center.js
+++ b/erpnext/accounts/doctype/cost_center/cost_center.js
@@ -14,8 +14,8 @@
 				return {
 					filters:[
 						['Account', 'company', '=', me.frm.doc.company],
-						['Account', 'is_pl_account', '=', 'Yes'],
-						['Account', 'group_or_ledger', '!=', 'Group'],
+						['Account', 'report_type', '=', 'Profit and Loss'],
+						['Account', 'group_or_ledger', '=', 'Ledger'],
 					]
 				}
 			});
diff --git a/erpnext/accounts/doctype/gl_entry/gl_entry.py b/erpnext/accounts/doctype/gl_entry/gl_entry.py
index 141cbeb..8bac636 100644
--- a/erpnext/accounts/doctype/gl_entry/gl_entry.py
+++ b/erpnext/accounts/doctype/gl_entry/gl_entry.py
@@ -42,10 +42,10 @@
 				self.doc.account)
 			
 	def pl_must_have_cost_center(self):
-		if frappe.db.get_value("Account", self.doc.account, "is_pl_account") == "Yes":
+		if frappe.db.get_value("Account", self.doc.account, "report_type") == "Profit and Loss":
 			if not self.doc.cost_center and self.doc.voucher_type != 'Period Closing Voucher':
-				frappe.throw(_("Cost Center must be specified for PL Account: ") + 
-					self.doc.account)
+				frappe.throw(_("Cost Center must be specified for Profit and Loss type account: ") 
+					+ self.doc.account)
 		elif self.doc.cost_center:
 			self.doc.cost_center = None
 		
@@ -55,8 +55,9 @@
 
 	def check_pl_account(self):
 		if self.doc.is_opening=='Yes' and \
-				frappe.db.get_value("Account", self.doc.account, "is_pl_account") == "Yes":
-			frappe.throw(_("For opening balance entry account can not be a PL account"))			
+				frappe.db.get_value("Account", self.doc.account, "report_type")=="Profit and Loss":
+			frappe.throw(_("For opening balance entry, account can not be \
+				a Profit and Loss type account"))			
 
 	def validate_account_details(self, adv_adj):
 		"""Account must be ledger, active and not freezed"""
diff --git a/erpnext/accounts/doctype/journal_voucher/journal_voucher.py b/erpnext/accounts/doctype/journal_voucher/journal_voucher.py
index f4e886b..57c14b0 100644
--- a/erpnext/accounts/doctype/journal_voucher/journal_voucher.py
+++ b/erpnext/accounts/doctype/journal_voucher/journal_voucher.py
@@ -175,7 +175,7 @@
 						' - '.join(d.account.split(' - ')[:-1]), 
 						master_type == 'Customer' and 'customer_name' or 'supplier_name')
 			
-			if account_type == 'Bank or Cash':
+			if account_type in ['Bank', 'Cash']:
 				company_currency = get_company_currency(self.doc.company)
 				amt = flt(d.debit) and d.debit or d.credit	
 				self.doc.total_amount = company_currency + ' ' + cstr(amt)
@@ -413,7 +413,7 @@
 	"""get all balance sheet accounts for opening entry"""
 	from erpnext.accounts.utils import get_balance_on
 	accounts = frappe.db.sql_list("""select name from tabAccount 
-		where group_or_ledger='Ledger' and is_pl_account='No' and company=%s""", company)
+		where group_or_ledger='Ledger' and report_type='Profit and Loss' and company=%s""", company)
 	
 	return [{"account": a, "balance": get_balance_on(a)} for a in accounts]
 	
diff --git a/erpnext/accounts/doctype/mis_control/README.md b/erpnext/accounts/doctype/mis_control/README.md
deleted file mode 100644
index 65c851f..0000000
--- a/erpnext/accounts/doctype/mis_control/README.md
+++ /dev/null
@@ -1 +0,0 @@
-Backend scripts for Financial Statements (to be deprecated)
\ No newline at end of file
diff --git a/erpnext/accounts/doctype/mis_control/__init__.py b/erpnext/accounts/doctype/mis_control/__init__.py
deleted file mode 100644
index baffc48..0000000
--- a/erpnext/accounts/doctype/mis_control/__init__.py
+++ /dev/null
@@ -1 +0,0 @@
-from __future__ import unicode_literals
diff --git a/erpnext/accounts/doctype/mis_control/mis_control.py b/erpnext/accounts/doctype/mis_control/mis_control.py
deleted file mode 100644
index 7109dfb..0000000
--- a/erpnext/accounts/doctype/mis_control/mis_control.py
+++ /dev/null
@@ -1,167 +0,0 @@
-# Copyright (c) 2013, Web Notes Technologies Pvt. Ltd. and Contributors
-# License: GNU General Public License v3. See license.txt
-
-from __future__ import unicode_literals
-import frappe
-from frappe.utils import flt, get_first_day, get_last_day, has_common
-import frappe.defaults
-from erpnext.accounts.utils import get_balance_on
-
-class DocType:
-	def __init__(self, doc, doclist):
-		self.doc = doc
-		self.doclist = doclist
-		self.account_list = []
-		
-		self.period_list = []
-		self.period_start_date = {}
-		self.period_end_date = {}
-
-		self.fs_list = []
-		self.root_bal = []
-		self.flag = 0
-		
-	# Get defaults on load of MIS, MIS - Comparison Report and Financial statements
-	def get_comp(self):
-		ret = {}
-		type = []
-
-		ret['period'] = ['Annual','Half Yearly','Quarterly','Monthly']
-		
-		from erpnext.accounts.page.accounts_browser.accounts_browser import get_companies
-		ret['company'] = get_companies()
-
-		#--- to get fiscal year and start_date of that fiscal year -----
-		res = frappe.db.sql("select name, year_start_date from `tabFiscal Year`")
-		ret['fiscal_year'] = [r[0] for r in res]
-		ret['start_dates'] = {}
-		for r in res:
-			ret['start_dates'][r[0]] = str(r[1])
-			
-		#--- from month and to month (for MIS - Comparison Report) -------
-		month_list = ['Jan','Feb','Mar','Apr','May','Jun','Jul','Aug','Sep','Oct','Nov','Dec']
-		fiscal_start_month = frappe.db.sql("select MONTH(year_start_date) from `tabFiscal Year` where name = %s",(frappe.defaults.get_global_default("fiscal_year")))
-		fiscal_start_month = fiscal_start_month and fiscal_start_month[0][0] or 1
-		mon = ['']
-		for i in range(fiscal_start_month,13): mon.append(month_list[i-1])
-		for i in range(0,fiscal_start_month-1): mon.append(month_list[i])
-		ret['month'] = mon
-
-		# get MIS Type on basis of roles of session user
-		self.roles = frappe.user.get_roles()
-		if has_common(self.roles, ['Sales Manager']):
-			type.append('Sales')
-		if has_common(self.roles, ['Purchase Manager']):
-			type.append('Purchase')
-		ret['type'] = type
-		return ret
-
-	
-	def get_statement(self, arg): 
-		self.return_data = []		
-
-		# define periods
-		arg = eval(arg)
-		pl = ''
-		
-		self.define_periods(arg['year'], arg['period'])
-		self.return_data.append([4,'']+self.period_list)
-
-				
-		if arg['statement'] == 'Balance Sheet': pl = 'No'
-		if arg['statement'] == 'Profit & Loss': pl = 'Yes'
-		self.get_children('',0,pl,arg['company'], arg['year'])
-		
-		return self.return_data
-
-	def get_children(self, parent_account, level, pl, company, fy):
-		cl = frappe.db.sql("select distinct account_name, name, root_type, lft, rgt from `tabAccount` where ifnull(parent_account, '') = %s and ifnull(is_pl_account, 'No')=%s and company=%s and docstatus != 2 order by name asc", (parent_account, pl, company))
-		level0_diff = [0 for p in self.period_list]
-		if pl=='Yes' and level==0: # switch for income & expenses
-			cl = [c for c in cl]
-			cl.reverse()
-		if cl:
-			for c in cl:
-				bal_list = self.get_period_balance(c[1], pl, c[2])
-				if level==0: # top level - put balances as totals
-					self.return_data.append([level, c[0]] + ['' for b in bal_list])
-					totals = bal_list
-					for i in range(len(totals)): # make totals
-						if c[2] in ["Asset", "Expense"]:
-							level0_diff[i] -= flt(totals[i])
-						else:
-							level0_diff[i] += flt(totals[i])
-				else:
-					self.return_data.append([level, c[0]]+bal_list)
-					
-				if level < 2:
-					self.get_children(c[1], level+1, pl, company, fy)
-					
-				# make totals - for top level
-				if level==0:
-					# add rows for profit / loss in B/S
-					if pl=='No':
-						if c[2] == "Asset":
-							self.return_data.append([4, 'Total '+c[0]] + totals)
-						else:
-							self.return_data.append([1, 'Total Liabilities'] + totals)
-							level0_diff = [-i for i in level0_diff] # convert to debit
-							self.return_data.append([5, 'Profit/Loss (Provisional)'] + level0_diff)
-							for i in range(len(totals)): # make totals
-								level0_diff[i] = flt(totals[i]) + level0_diff[i]
-
-					# add rows for profit / loss in P/L
-					else:
-						if c[2]=='Expense':
-							self.return_data.append([1, 'Total Expenses'] + totals)
-							self.return_data.append([5, 'Profit/Loss (Provisional)'] + level0_diff)
-							for i in range(len(totals)): # make totals
-								level0_diff[i] = flt(totals[i]) + level0_diff[i]
-						else:
-							self.return_data.append([4, 'Total '+c[0]] + totals)
-
-	def define_periods(self, year, period):	
-		ysd = frappe.db.sql("select year_start_date from `tabFiscal Year` where name=%s", year)
-		ysd = ysd and ysd[0][0] or ''
-
-		self.ysd = ysd
-
-		# year
-		if period == 'Annual':
-			pn = 'FY'+year
-			self.period_list.append(pn)
-			self.period_start_date[pn] = ysd
-			self.period_end_date[pn] = get_last_day(get_first_day(ysd,0,11))
-
-		# quarter
-		if period == 'Quarterly':
-			for i in range(4):
-				pn = 'Q'+str(i+1)
-				self.period_list.append(pn)
-				self.period_start_date[pn] = get_first_day(ysd,0,i*3)
-				self.period_end_date[pn] = get_last_day(get_first_day(ysd,0,((i+1)*3)-1))	
-
-		# month
-		if period == 'Monthly':
-			mlist = ['Jan','Feb','Mar','Apr','May','Jun','Jul','Aug','Sep','Oct','Nov','Dec']
-			for i in range(12):
-				fd = get_first_day(ysd,0,i)
-				pn = mlist[fd.month-1]
-				self.period_list.append(pn)
-			
-				self.period_start_date[pn] = fd
-				self.period_end_date[pn] = get_last_day(fd)
-			
-	def get_period_balance(self, acc, pl, root_type):
-		ret, i = [], 0
-		for p in self.period_list:
-			period_end_date = self.period_end_date[p].strftime('%Y-%m-%d')
-			bal = get_balance_on(acc, period_end_date)
-			if root_type not in ["Asset", "Expense"]:
-				bal = -bal
-				
-			if pl=='Yes': 
-				bal = bal - sum(ret)
-				
-			ret.append(bal)
-		return ret
\ No newline at end of file
diff --git a/erpnext/accounts/doctype/mis_control/mis_control.txt b/erpnext/accounts/doctype/mis_control/mis_control.txt
deleted file mode 100644
index 28a0df4..0000000
--- a/erpnext/accounts/doctype/mis_control/mis_control.txt
+++ /dev/null
@@ -1,19 +0,0 @@
-[
- {
-  "creation": "2012-03-27 14:35:49", 
-  "docstatus": 0, 
-  "modified": "2013-12-20 19:23:21", 
-  "modified_by": "Administrator", 
-  "owner": "Administrator"
- }, 
- {
-  "doctype": "DocType", 
-  "issingle": 1, 
-  "module": "Accounts", 
-  "name": "__common__"
- }, 
- {
-  "doctype": "DocType", 
-  "name": "MIS Control"
- }
-]
\ No newline at end of file
diff --git a/erpnext/accounts/doctype/mode_of_payment/mode_of_payment.js b/erpnext/accounts/doctype/mode_of_payment/mode_of_payment.js
index f2b2ead..a86da0e 100644
--- a/erpnext/accounts/doctype/mode_of_payment/mode_of_payment.js
+++ b/erpnext/accounts/doctype/mode_of_payment/mode_of_payment.js
@@ -3,10 +3,10 @@
 
 cur_frm.set_query("default_account", function(doc) {
 	return{
-		filters: {
-			'account_type': "Bank or Cash",
-			"group_or_ledger": "Ledger",
-			'company': doc.company
-		}
+		filters: [
+			['Account', 'account_type', 'in', 'Bank, Cash'],
+			['Account', 'group_or_ledger', '=', 'Ledger'],
+			['Account', 'company', '=', doc.company]
+		]
 	}
 });
\ No newline at end of file
diff --git a/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.js b/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.js
index 1d28f69..162e857 100644
--- a/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.js
+++ b/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.js
@@ -12,9 +12,8 @@
 cur_frm.fields_dict['closing_account_head'].get_query = function(doc, cdt, cdn) {
 	return{
 		filters:{
-			'is_pl_account': "No",
 			"company": doc.company,
-			"root_type": "Liability",
+			"report_type": "Balance Sheet",
 			"freeze_account": "No",
 			"group_or_ledger": "Ledger"
 		}
diff --git a/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.py b/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.py
index b336716..022e9d4 100644
--- a/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.py
+++ b/erpnext/accounts/doctype/period_closing_voucher/period_closing_voucher.py
@@ -25,8 +25,8 @@
 			where voucher_type = 'Period Closing Voucher' and voucher_no=%s""", self.doc.name)
 
 	def validate_account_head(self):
-		if frappe.db.get_value("Account", self.doc.closing_account_head, "root_type") \
-				!= "Liability":
+		if frappe.db.get_value("Account", self.doc.closing_account_head, "report_type") \
+				!= "Balance Sheet":
 			frappe.throw(_("Account") + ": " + self.doc.closing_account_head + 
 				_("must be a Liability account"))
 
@@ -67,7 +67,7 @@
 		return frappe.db.sql("""
 			select t1.account, sum(ifnull(t1.debit,0))-sum(ifnull(t1.credit,0)) as balance
 			from `tabGL Entry` t1, `tabAccount` t2 
-			where t1.account = t2.name and ifnull(t2.is_pl_account, 'No') = 'Yes'
+			where t1.account = t2.name and ifnull(t2.report_type, '') = 'Profit and Loss'
 			and t2.docstatus < 2 and t2.company = %s 
 			and t1.posting_date between %s and %s 
 			group by t1.account
diff --git a/erpnext/accounts/doctype/pos_setting/pos_setting.js b/erpnext/accounts/doctype/pos_setting/pos_setting.js
index ea08fd2..debfcd9 100755
--- a/erpnext/accounts/doctype/pos_setting/pos_setting.js
+++ b/erpnext/accounts/doctype/pos_setting/pos_setting.js
@@ -16,8 +16,7 @@
 cur_frm.fields_dict['cash_bank_account'].get_query = function(doc,cdt,cdn) {
 	return{
 		filters:{
-			'root_type': "Asset",
-			'is_pl_account': "No",
+			'report_type': "Balance Sheet",
 			'group_or_ledger': "Ledger",
 			'company': doc.company
 		}
@@ -54,8 +53,7 @@
 cur_frm.fields_dict["expense_account"].get_query = function(doc) {
 	return {
 		filters: {
-			"is_pl_account": "Yes",
-			"root_type": "Expense",
+			"report_type": "Profit and Loss",
 			"company": doc.company,
 			"group_or_ledger": "Ledger"
 		}
diff --git a/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.js b/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.js
index f4a0da1..be1f3b2 100644
--- a/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.js
+++ b/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.js
@@ -158,8 +158,7 @@
 cur_frm.fields_dict['credit_to'].get_query = function(doc) {
 	return{
 		filters:{
-			'root_type': 'Liability',
-			'is_pl_account': 'No',
+			'report_type': 'Balance Sheet',
 			'group_or_ledger': 'Ledger',
 			'company': doc.company
 		}
diff --git a/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.py b/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.py
index 0b255b6..f94dd81 100644
--- a/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.py
+++ b/erpnext/accounts/doctype/purchase_invoice/purchase_invoice.py
@@ -109,8 +109,8 @@
 			self.doc.remarks = "No Remarks"
 
 	def validate_credit_acc(self):
-		if frappe.db.get_value("Account", self.doc.debit_to, "root_type") != "Liability":
-			frappe.throw(_("Account must be an liability account"))
+		if frappe.db.get_value("Account", self.doc.debit_to, "report_type") != "Balance Sheet":
+			frappe.throw(_("Account must be a balance sheet account"))
 	
 	# Validate Acc Head of Supplier and Credit To Account entered
 	# ------------------------------------------------------------
@@ -424,7 +424,7 @@
 	# but can also be a Liability account with account_type='Expense Account' in special circumstances. 
 	# Hence the first condition is an "OR"
 	return frappe.db.sql("""select tabAccount.name from `tabAccount` 
-			where (tabAccount.root_type in ("Asset", "Expense")
+			where (tabAccount.report_type = "Profit and Loss"
 					or tabAccount.account_type = "Expense Account")
 				and tabAccount.group_or_ledger="Ledger" 
 				and tabAccount.docstatus!=2 
diff --git a/erpnext/accounts/doctype/purchase_taxes_and_charges_master/purchase_taxes_and_charges_master.js b/erpnext/accounts/doctype/purchase_taxes_and_charges_master/purchase_taxes_and_charges_master.js
index aa4ec27..2027a7b 100644
--- a/erpnext/accounts/doctype/purchase_taxes_and_charges_master/purchase_taxes_and_charges_master.js
+++ b/erpnext/accounts/doctype/purchase_taxes_and_charges_master/purchase_taxes_and_charges_master.js
@@ -138,7 +138,6 @@
 		query: "erpnext.controllers.queries.tax_account_query",
 		filters: {
 			"account_type": ["Tax", "Chargeable", "Expense Account"],
-			"root_type": "Expense",
 			"company": doc.company
 		}
 	}
diff --git a/erpnext/accounts/doctype/sales_invoice/sales_invoice.js b/erpnext/accounts/doctype/sales_invoice/sales_invoice.js
index 1ae5341..42cf823 100644
--- a/erpnext/accounts/doctype/sales_invoice/sales_invoice.js
+++ b/erpnext/accounts/doctype/sales_invoice/sales_invoice.js
@@ -292,8 +292,7 @@
 cur_frm.fields_dict.debit_to.get_query = function(doc) {
 	return{
 		filters: {
-			'root_type': 'Asset',
-			'is_pl_account': 'No',
+			'report_type': 'Balance Sheet',
 			'group_or_ledger': 'Ledger',
 			'company': doc.company
 		}
@@ -303,8 +302,7 @@
 cur_frm.fields_dict.cash_bank_account.get_query = function(doc) {
 	return{
 		filters: {
-			'root_type': 'Asset',
-			'is_pl_account': 'No',
+			'report_type': 'Balance Sheet',
 			'group_or_ledger': 'Ledger',
 			'company': doc.company
 		}
@@ -314,8 +312,7 @@
 cur_frm.fields_dict.write_off_account.get_query = function(doc) {
 	return{
 		filters:{
-			'root_type': 'Expense',
-			'is_pl_account': 'Yes',
+			'report_type': 'Profit and Loss',
 			'group_or_ledger': 'Ledger',
 			'company': doc.company
 		}
@@ -356,8 +353,7 @@
 	cur_frm.fields_dict['entries'].grid.get_field('expense_account').get_query = function(doc) {
 		return {
 			filters: {
-				'is_pl_account': 'Yes',
-				'root_type': 'Expense',
+				'report_type': 'Profit and Loss',
 				'company': doc.company,
 				'group_or_ledger': 'Ledger'
 			}
diff --git a/erpnext/accounts/doctype/sales_invoice/sales_invoice.py b/erpnext/accounts/doctype/sales_invoice/sales_invoice.py
index 12334fa..a3302c7 100644
--- a/erpnext/accounts/doctype/sales_invoice/sales_invoice.py
+++ b/erpnext/accounts/doctype/sales_invoice/sales_invoice.py
@@ -257,8 +257,8 @@
 
 
 	def validate_debit_acc(self):
-		if frappe.db.get_value("Account", self.doc.debit_to, "root_type") != "Asset":
-			frappe.throw(_("Account must be an asset account"))
+		if frappe.db.get_value("Account", self.doc.debit_to, "report_type") != "Balance Sheet":
+			frappe.throw(_("Account must be a balance sheet account"))
 			
 	def validate_fixed_asset_account(self):
 		"""Validate Fixed Asset and whether Income Account Entered Exists"""
@@ -787,7 +787,7 @@
 	# but can also be a Asset account with account_type='Income Account' in special circumstances. 
 	# Hence the first condition is an "OR"
 	return frappe.db.sql("""select tabAccount.name from `tabAccount` 
-			where (tabAccount.root_type in ("Liability", "Income")
+			where (tabAccount.report_type = "Profit and Loss"
 					or tabAccount.account_type = "Income Account") 
 				and tabAccount.group_or_ledger="Ledger" 
 				and tabAccount.docstatus!=2
diff --git a/erpnext/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.js b/erpnext/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.js
index c5e9689..6f35f4a 100644
--- a/erpnext/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.js
+++ b/erpnext/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.js
@@ -137,7 +137,6 @@
 		query: "erpnext.controllers.queries.tax_account_query",
     	filters: {
 			"account_type": ["Tax", "Chargeable", "Income Account"],
-			"root_type": "Income",
 			"company": doc.company
 		}
 	}	
diff --git a/erpnext/accounts/page/financial_statements/README.md b/erpnext/accounts/page/financial_statements/README.md
deleted file mode 100644
index 1493ac9..0000000
--- a/erpnext/accounts/page/financial_statements/README.md
+++ /dev/null
@@ -1 +0,0 @@
-Generate provisional Balance Sheet and Profit and Loss statements.
\ No newline at end of file
diff --git a/erpnext/accounts/page/financial_statements/__init__.py b/erpnext/accounts/page/financial_statements/__init__.py
deleted file mode 100644
index baffc48..0000000
--- a/erpnext/accounts/page/financial_statements/__init__.py
+++ /dev/null
@@ -1 +0,0 @@
-from __future__ import unicode_literals
diff --git a/erpnext/accounts/page/financial_statements/financial_statements.js b/erpnext/accounts/page/financial_statements/financial_statements.js
deleted file mode 100644
index 82cebd2..0000000
--- a/erpnext/accounts/page/financial_statements/financial_statements.js
+++ /dev/null
@@ -1,148 +0,0 @@
-// Copyright (c) 2013, Web Notes Technologies Pvt. Ltd. and Contributors
-// License: GNU General Public License v3. See license.txt
-
-erpnext.fs = {}
-
-pscript['onload_Financial Statements'] = function(wrapper) {
-	frappe.ui.make_app_page({
-		parent: wrapper,
-		"title": frappe._("Financial Statements"),
-		"single_column": true,
-	});
-	
-	erpnext.fs.stmt_type = wrapper.appframe.add_field({
-		fieldtype:"Select",
-		fieldname:"stmt_type",
-		options: ['Select Statement...','Balance Sheet','Profit & Loss']
-	})
-
-	erpnext.fs.stmt_company = wrapper.appframe.add_field({
-		fieldtype:"Select",
-		fieldname:"stmt_company",
-		options: ['Loading Companies...']
-	})
-
-	erpnext.fs.stmt_period = wrapper.appframe.add_field({
-		fieldtype:"Select",
-		fieldname:"stmt_period",
-		options: ['Select Period...', 'Annual', 'Quarterly', 'Monthly']
-	})
-
-	erpnext.fs.stmt_fiscal_year = wrapper.appframe.add_field({
-		fieldtype:"Select",
-		fieldname:"stmt_fiscal_year",
-		options: ['Loading...']
-	})
-
-	wrapper.appframe.add_button(frappe._("Create"), function() {
-		pscript.stmt_new();
-	}, "icon-refresh")
-
-	wrapper.appframe.add_button(frappe._("Print"), function() {
-		_p.go($i('print_html').innerHTML);
-	}, "icon-print")
-		
-	$(wrapper).find(".layout-main").html('<div id="print_html">\
-		<div id="stmt_title1" style="margin:16px 0px 4px 0px; font-size: 16px; font-weight: bold; color: #888;"></div>\
-		<div id="stmt_title2" style="margin:0px 0px 8px 0px; font-size: 16px; font-weight: bold;"></div>\
-		<div id="stmt_tree" style="margin: 0px 0px 16px; overflow: auto;">'+frappe._('Please select options and click on Create')+'</div>\
-	</div>').css({"min-height": "400px"});
-
-  // load companies
-  return $c_obj('MIS Control','get_comp','', function(r,rt) {    
-    // company
-	erpnext.fs.stmt_company.$input.empty()
-		.add_options(['Select Company...'].concat(r.message.company));
-	erpnext.fs.stmt_fiscal_year.$input.empty()
-		.add_options(['Select Year...'].concat(r.message.fiscal_year));
-  });
-
-}
-
-pscript.stmt_new = function(stmt,company_name,level,period,year) {
-    
-  $i('stmt_tree').innerHTML = frappe._('Refreshing....');
-  $i('stmt_tree').style.display = 'block';
-  
-  var company =erpnext.fs.stmt_company.get_value();
-
-  var arg = {
-  	statement: erpnext.fs.stmt_type.get_value(),
-  	company: company,
-  	period: erpnext.fs.stmt_period.get_value(),
-  	year: erpnext.fs.stmt_fiscal_year.get_value()
-  }
-
-  return $c_obj('MIS Control', 'get_statement', docstring(arg), function(r,rt) {
-      var nl = r.message;
-      var t = $i('stmt_tree');
-      var stmt_type = erpnext.fs.stmt_type.get_value();
-      t.innerHTML = '';
-      var tab = $a($a(t, 'div'),'table','stmt_table');
-      tab.style.tableLayout = 'fixed';
-      tab.style.width = '100%';
-      
-      $i('stmt_title1').innerHTML = erpnext.fs.stmt_company.get_value()
-      $i('stmt_title2').innerHTML = erpnext.fs.stmt_type.get_value() 
-		+ ' - ' + erpnext.fs.stmt_fiscal_year.get_value();
-      for(i=0;i<nl.length;i++) {
-        tab.insertRow(i);
-        
-        tab.rows[i].style.height = '20px';
-        
-        // heads
-        var per = tab.rows[i].insertCell(0);
-        per.style.width = '150px';
-        per.innerHTML = pscript.space_reqd(nl[i][0])+cstr(nl[i][1]);
-        per.className = 'stmt_level' + nl[i][0];
-        
-        // Make Title Bold
-        if(nl[i][0] == 0 || nl[i][0] == 1 || nl[i][0] == 4){
-          per.innerHTML = (pscript.space_reqd(nl[i][0])+cstr(nl[i][1])+'').bold();
-          per.style.fontSize = '12px';
-        }
-
-        for(j=2;j<nl[i].length;j++){
-          var per = tab.rows[i].insertCell(j-1);
-//          per.style.width = (100-acc_width)/(nl[i].length-2) +'%';
-          per.style.width = '150px';
-          per.style.textAlign = "right";
-          per.className = 'stmt_level' + nl[i][0];
-          if (i==0) {
-            per.style.fontSize = '14px';
-            per.style.textAlign = "right";
-          }
-          if (nl[i][0]==5) {
-            if(flt(nl[i][j])<0.0) per.style.color = "RED";
-            else per.style.color = "GREEN";
-          }
-          if(nl[i][0] != 0){
-            if(nl[i][j]) {
-              if (i==0) 
-				per.innerHTML = (nl[i][j]+'').bold();
-              else if(nl[i][0] == 1 || nl[i][0] == 4) 
-				per.innerHTML = format_currency(nl[i][j], erpnext.get_currency(company)).bold();
-              else 
-				per.innerHTML = format_currency(nl[i][j], erpnext.get_currency(company))
-            } else
-              per.innerHTML = '-';
-          }
-        }
-      }
-    
-  });	
-  $i('stmt_tree').style.display = 'block';  
-}
-
-//printing statement
-pscript.print_statement = function(){
-  print_go($i('print_html').innerHTML);
-}
-
-//determine space to be given
-pscript.space_reqd = function(val){
-  if(val == 1) return '  ';
-  else if(val == 2) return '     ';
-  else if(val == 3) return '        ';
-  else return '';  
-}
\ No newline at end of file
diff --git a/erpnext/accounts/page/financial_statements/financial_statements.txt b/erpnext/accounts/page/financial_statements/financial_statements.txt
deleted file mode 100644
index 18f8904..0000000
--- a/erpnext/accounts/page/financial_statements/financial_statements.txt
+++ /dev/null
@@ -1,36 +0,0 @@
-[
- {
-  "creation": "2013-01-27 16:30:52", 
-  "docstatus": 0, 
-  "modified": "2013-08-14 12:47:45", 
-  "modified_by": "Administrator", 
-  "owner": "Administrator"
- }, 
- {
-  "doctype": "Page", 
-  "icon": "icon-money", 
-  "module": "Accounts", 
-  "name": "__common__", 
-  "page_name": "Financial Statements", 
-  "standard": "Yes"
- }, 
- {
-  "doctype": "Page Role", 
-  "name": "__common__", 
-  "parent": "Financial Statements", 
-  "parentfield": "roles", 
-  "parenttype": "Page"
- }, 
- {
-  "doctype": "Page", 
-  "name": "Financial Statements"
- }, 
- {
-  "doctype": "Page Role", 
-  "role": "Accounts Manager"
- }, 
- {
-  "doctype": "Page Role", 
-  "role": "Analytics"
- }
-]
\ No newline at end of file
diff --git a/erpnext/accounts/report/accounts_payable/accounts_payable.js b/erpnext/accounts/report/accounts_payable/accounts_payable.js
index f1517a7..f85e179 100644
--- a/erpnext/accounts/report/accounts_payable/accounts_payable.js
+++ b/erpnext/accounts/report/accounts_payable/accounts_payable.js
@@ -20,8 +20,7 @@
 				return {
 					"query": "accounts.utils.get_account_list", 
 					"filters": {
-						"is_pl_account": "No",
-						"root_type": "Liability",
+						"report_type": "Balance Sheet",
 						"company": company,
 						"master_type": "Supplier"
 					}
diff --git a/erpnext/accounts/report/accounts_receivable/accounts_receivable.js b/erpnext/accounts/report/accounts_receivable/accounts_receivable.js
index f33e659..c08c7ff 100644
--- a/erpnext/accounts/report/accounts_receivable/accounts_receivable.js
+++ b/erpnext/accounts/report/accounts_receivable/accounts_receivable.js
@@ -20,8 +20,7 @@
 				return {
 					"query": "accounts.utils.get_account_list", 
 					"filters": {
-						"is_pl_account": "No",
-						"root_type": "Asset",
+						"report_type": "Balance Sheet",
 						"company": company,
 						"master_type": "Customer"
 					}
diff --git a/erpnext/accounts/report/bank_clearance_summary/bank_clearance_summary.js b/erpnext/accounts/report/bank_clearance_summary/bank_clearance_summary.js
index 5f692e3..4813f91 100644
--- a/erpnext/accounts/report/bank_clearance_summary/bank_clearance_summary.js
+++ b/erpnext/accounts/report/bank_clearance_summary/bank_clearance_summary.js
@@ -24,10 +24,10 @@
 			"get_query": function() {
 				return {
 					"query": "accounts.utils.get_account_list", 
-					"filters": {
-						"is_pl_account": "No",
-						"account_type": "Bank or Cash"
-					}
+					"filters": [
+						['Account', 'account_type', 'in', 'Bank, Cash'],
+						['Account', 'group_or_ledger', '=', 'Ledger'],
+					]
 				}
 			}
 		},
diff --git a/erpnext/accounts/report/bank_reconciliation_statement/bank_reconciliation_statement.js b/erpnext/accounts/report/bank_reconciliation_statement/bank_reconciliation_statement.js
index 1d355cc..baacfe5 100644
--- a/erpnext/accounts/report/bank_reconciliation_statement/bank_reconciliation_statement.js
+++ b/erpnext/accounts/report/bank_reconciliation_statement/bank_reconciliation_statement.js
@@ -12,10 +12,10 @@
 			"get_query": function() {
 				return {
 					"query": "accounts.utils.get_account_list", 
-					"filters": {
-						"is_pl_account": "No",
-						"account_type": "Bank or Cash"
-					}
+					"filters": [
+						['Account', 'account_type', 'in', 'Bank, Cash'],
+						['Account', 'group_or_ledger', '=', 'Ledger'],
+					]
 				}
 			}
 		},
diff --git a/erpnext/accounts/report/item_wise_purchase_register/item_wise_purchase_register.js b/erpnext/accounts/report/item_wise_purchase_register/item_wise_purchase_register.js
index 6bbcdfa..9c2f5fb 100644
--- a/erpnext/accounts/report/item_wise_purchase_register/item_wise_purchase_register.js
+++ b/erpnext/accounts/report/item_wise_purchase_register/item_wise_purchase_register.js
@@ -32,8 +32,7 @@
 				return {
 					"query": "accounts.utils.get_account_list", 
 					"filters": {
-						"is_pl_account": "No",
-						"root_type": "Liability",
+						"report_type": "Balance Sheet",
 						"company": company,
 						"master_type": "Supplier"
 					}
diff --git a/erpnext/accounts/report/item_wise_sales_register/item_wise_sales_register.js b/erpnext/accounts/report/item_wise_sales_register/item_wise_sales_register.js
index 7788009..af6c224 100644
--- a/erpnext/accounts/report/item_wise_sales_register/item_wise_sales_register.js
+++ b/erpnext/accounts/report/item_wise_sales_register/item_wise_sales_register.js
@@ -26,8 +26,7 @@
 				return {
 					"query": "accounts.utils.get_account_list", 
 					"filters": {
-						"is_pl_account": "No",
-						"root_type": "Asset",
+						"report_type": "Balance Sheet",
 						"company": company,
 						"master_type": "Customer"
 					}
diff --git a/erpnext/accounts/report/payment_period_based_on_invoice_date/payment_period_based_on_invoice_date.js b/erpnext/accounts/report/payment_period_based_on_invoice_date/payment_period_based_on_invoice_date.js
index 50c8d36..768b8e2 100644
--- a/erpnext/accounts/report/payment_period_based_on_invoice_date/payment_period_based_on_invoice_date.js
+++ b/erpnext/accounts/report/payment_period_based_on_invoice_date/payment_period_based_on_invoice_date.js
@@ -31,7 +31,7 @@
 				return {
 					query: "accounts.utils.get_account_list", 
 					filters: {
-						is_pl_account: "No",
+						"report_type": "Balance Sheet",
 						company: frappe.query_report.filters_by_name.company.get_value()
 					}
 				}
diff --git a/erpnext/accounts/report/purchase_register/purchase_register.js b/erpnext/accounts/report/purchase_register/purchase_register.js
index bde7425..93d1b8a 100644
--- a/erpnext/accounts/report/purchase_register/purchase_register.js
+++ b/erpnext/accounts/report/purchase_register/purchase_register.js
@@ -26,8 +26,7 @@
 				return {
 					"query": "accounts.utils.get_account_list", 
 					"filters": {
-						"is_pl_account": "No",
-						"root_type": "Liability",
+						"report_type": "Balance Sheet",
 						"company": company,
 						"master_type": "Supplier"
 					}
diff --git a/erpnext/accounts/report/sales_register/sales_register.js b/erpnext/accounts/report/sales_register/sales_register.js
index bd8f690..cef7299 100644
--- a/erpnext/accounts/report/sales_register/sales_register.js
+++ b/erpnext/accounts/report/sales_register/sales_register.js
@@ -26,8 +26,7 @@
 				return {
 					"query": "accounts.utils.get_account_list", 
 					"filters": {
-						"is_pl_account": "No",
-						"root_type": "Asset",
+						"report_type": "Balance Sheet",
 						"company": company,
 						"master_type": "Customer"
 					}
diff --git a/erpnext/accounts/utils.py b/erpnext/accounts/utils.py
index b279814..3bb98a0 100644
--- a/erpnext/accounts/utils.py
+++ b/erpnext/accounts/utils.py
@@ -285,8 +285,7 @@
 
 def validate_expense_against_budget(args):
 	args = frappe._dict(args)
-	if frappe.db.get_value("Account", {"name": args.account, "is_pl_account": "Yes", 
-		"root_type": "Expense"}):
+	if frappe.db.get_value("Account", {"name": args.account, "report_type": "Profit and Loss"}):
 			budget = frappe.db.sql("""
 				select bd.budget_allocated, cc.distribution_id 
 				from `tabCost Center` cc, `tabBudget Detail` bd
diff --git a/erpnext/controllers/queries.py b/erpnext/controllers/queries.py
index 449a493..e8cdc80 100644
--- a/erpnext/controllers/queries.py
+++ b/erpnext/controllers/queries.py
@@ -106,17 +106,24 @@
 		'page_len': page_len})
 		
 def tax_account_query(doctype, txt, searchfield, start, page_len, filters):
-	return frappe.db.sql("""select name, parent_account	from tabAccount 
+	tax_accounts = frappe.db.sql("""select name, parent_account	from tabAccount 
 		where tabAccount.docstatus!=2 
-			and (account_type in (%s) or root_type = %s)
+			and account_type in (%s)
 			and group_or_ledger = 'Ledger'
 			and company = %s
 			and `%s` LIKE %s
 		limit %s, %s""" % 
-		(", ".join(['%s']*len(filters.get("account_type"))), 
-			"%s", "%s", searchfield, "%s", "%s", "%s"), 
-		tuple(filters.get("account_type") + [filters.get("root_type"), 
-			filters.get("company"), "%%%s%%" % txt, start, page_len]))
+		(", ".join(['%s']*len(filters.get("account_type"))), "%s", searchfield, "%s", "%s", "%s"), 
+		tuple(filters.get("account_type") + [filters.get("company"), "%%%s%%" % txt, 
+			start, page_len]))
+	if not tax_accounts:
+		tax_accounts = frappe.db.sql("""select name, parent_account	from tabAccount 
+			where tabAccount.docstatus!=2 and group_or_ledger = 'Ledger' 
+				and company = %s and `%s` LIKE %s limit %s, %s""" 
+			% ("%s", searchfield, "%s", "%s", "%s"), 
+			(filters.get("company"), "%%%s%%" % txt, start, page_len))
+			
+	return tax_accounts
 
 def item_query(doctype, txt, searchfield, start, page_len, filters):
 	from frappe.utils import nowdate
diff --git a/erpnext/setup/doctype/company/company.js b/erpnext/setup/doctype/company/company.js
index 4d1e20d..d49a43e 100644
--- a/erpnext/setup/doctype/company/company.js
+++ b/erpnext/setup/doctype/company/company.js
@@ -79,11 +79,11 @@
 
 cur_frm.fields_dict.default_bank_account.get_query = function(doc) {    
 	return{
-		filters:{
-			'company': doc.name,
-			'group_or_ledger': "Ledger",
-			'account_type': "Bank or Cash"
-		}
+		filters: [
+			['Account', 'account_type', 'in', 'Bank, Cash'],
+			['Account', 'group_or_ledger', '=', 'Ledger'],
+			['Account', 'company', '=', doc.name]
+		]
 	}  
 }
 
@@ -114,8 +114,7 @@
 		filters:{
 			'company': doc.name,
 			'group_or_ledger': "Ledger",
-			'is_pl_account': "Yes",
-			'root_type': "Expense"
+			"report_type": "Profit and Loss"
 		}
 	}  
 }
@@ -125,8 +124,7 @@
 		filters:{
 			'company': doc.name,
 			'group_or_ledger': "Ledger",
-			'is_pl_account': "Yes",
-			'root_type': "Income"
+			"report_type": "Profit and Loss"
 		}
 	}  
 }
@@ -144,8 +142,7 @@
 	cur_frm.fields_dict["stock_adjustment_account"].get_query = function(doc) {
 		return {
 			"filters": {
-				"is_pl_account": "Yes",
-				"root_type": "Expense",
+				"report_type": "Profit and Loss",
 				"company": doc.name,
 				'group_or_ledger': "Ledger"
 			}
@@ -158,8 +155,7 @@
 	cur_frm.fields_dict["stock_received_but_not_billed"].get_query = function(doc) {
 		return {
 			"filters": {
-				"is_pl_account": "No",
-				"root_type": "Liability",
+				"report_type": "Balance Sheet",
 				"company": doc.name,
 				'group_or_ledger': "Ledger"
 			}
diff --git a/erpnext/setup/doctype/company/company.py b/erpnext/setup/doctype/company/company.py
index eefe111..cc3253f 100644
--- a/erpnext/setup/doctype/company/company.py
+++ b/erpnext/setup/doctype/company/company.py
@@ -57,22 +57,15 @@
 	def create_default_warehouses(self):
 		for whname in ("Stores", "Work In Progress", "Finished Goods"):
 			if not frappe.db.exists("Warehouse", whname + " - " + self.doc.abbr):
-				if not frappe.db.exists("Account", "Stock Assets - " + self.doc.abbr):
+				stock_group = frappe.db.get_value("Account", {"account_type": "Stock", 
+					"group_or_ledger": "Group"})
+				if stock_group:
 					frappe.bean({
-						"doctype": "Account",
-						"account_name": "Stock Assets",
+						"doctype":"Warehouse",
+						"warehouse_name": whname,
 						"company": self.doc.name,
-						"group_or_ledger": "Group",
-						"root_type": "Asset",
-						"is_pl_account": "No"
+						"create_account_under": stock_group
 					}).insert()
-				
-				frappe.bean({
-					"doctype":"Warehouse",
-					"warehouse_name": whname,
-					"company": self.doc.name,
-					"create_account_under": "Stock Assets - " + self.doc.abbr
-				}).insert()
 			
 	def create_default_web_page(self):
 		if not frappe.db.get_value("Website Settings", None, "home_page") and \
@@ -133,15 +126,16 @@
 
 	def set_default_accounts(self):
 		def _set_default_accounts(accounts):
-			for a in accounts:
-				account_name = accounts[a] + " - " + self.doc.abbr
-				if not self.doc.fields.get(a) and frappe.db.exists("Account", account_name):
-					frappe.db.set(self.doc, a, account_name)
+			for field, account_type in accounts.items():
+				account = frappe.db.get_value("Account", {"account_type": account_type, 
+					"group_or_ledger": "Ledger", "company": self.doc.name})
+
+				if account and not self.doc.fields.get(field):
+					frappe.db.set(self.doc, field, account)
 			
 		_set_default_accounts({
-			"receivables_group": "Accounts Receivable",
-			"payables_group": "Accounts Payable",
-			"default_cash_account": "Cash"
+			"default_cash_account": "Cash",
+			"default_bank_account": "Bank"
 		})
 		
 		if cint(frappe.db.get_value("Accounts Settings", None, "auto_accounting_for_stock")):
@@ -213,117 +207,125 @@
 		frappe.defaults.clear_cache()
 		
 	def create_standard_accounts(self):
-		self.fld_dict = {'account_name':0,'parent_account':1,'group_or_ledger':2,'is_pl_account':3,'account_type':4,'root_type':5,'company':6,'tax_rate':7}
+		self.fld_dict = {
+			'account_name': 0,
+			'parent_account': 1,
+			'group_or_ledger': 2,
+			'account_type': 3,
+			'report_type': 4,
+			'company': 5,
+			'tax_rate': 6
+		}
+		
 		acc_list_common = [
-			['Application of Funds (Assets)','','Group','No','','Asset',self.doc.name,''],
-				['Current Assets','Application of Funds (Assets)','Group','No','','Asset',self.doc.name,''],
-					['Accounts Receivable','Current Assets','Group','No','','Asset',self.doc.name,''],
-					['Bank Accounts','Current Assets','Group','No','Bank or Cash','Asset',self.doc.name,''],
-					['Cash In Hand','Current Assets','Group','No','Bank or Cash','Asset',self.doc.name,''],
-						['Cash','Cash In Hand','Ledger','No','Bank or Cash','Asset',self.doc.name,''],
-					['Loans and Advances (Assets)','Current Assets','Group','No','','Asset',self.doc.name,''],
-					['Securities and Deposits','Current Assets','Group','No','','Asset',self.doc.name,''],
-						['Earnest Money','Securities and Deposits','Ledger','No','','Asset',self.doc.name,''],
-					['Stock Assets','Current Assets','Group','No','','Asset',self.doc.name,''],
-					['Tax Assets','Current Assets','Group','No','','Asset',self.doc.name,''],
-				['Fixed Assets','Application of Funds (Assets)','Group','No','','Asset',self.doc.name,''],
-					['Capital Equipments','Fixed Assets','Ledger','No','Fixed Asset','Asset',self.doc.name,''],
-					['Computers','Fixed Assets','Ledger','No','Fixed Asset','Asset',self.doc.name,''],
-					['Furniture and Fixture','Fixed Assets','Ledger','No','Fixed Asset','Asset',self.doc.name,''],
-					['Office Equipments','Fixed Assets','Ledger','No','Fixed Asset','Asset',self.doc.name,''],
-					['Plant and Machinery','Fixed Assets','Ledger','No','Fixed Asset','Asset',self.doc.name,''],
-				['Investments','Application of Funds (Assets)','Group','No','','Asset',self.doc.name,''],
-				['Temporary Accounts (Assets)','Application of Funds (Assets)','Group','No','','Asset',self.doc.name,''],
-					['Temporary Account (Assets)','Temporary Accounts (Assets)','Ledger','No','','Asset',self.doc.name,''],
-			['Expenses','','Group','Yes','Expense Account','Expense',self.doc.name,''],
-				['Direct Expenses','Expenses','Group','Yes','Expense Account','Expense',self.doc.name,''],
-					['Stock Expenses','Direct Expenses','Group','Yes','Expense Account','Expense',self.doc.name,''],
-						['Cost of Goods Sold','Stock Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-						['Stock Adjustment','Stock Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-						['Expenses Included In Valuation', "Stock Expenses", 'Ledger', 'Yes', 'Expense Account', 'Expense', self.doc.name, ''],
-				['Indirect Expenses','Expenses','Group','Yes','Expense Account','Expense',self.doc.name,''],
-					['Advertising and Publicity','Indirect Expenses','Ledger','Yes','Chargeable','Expense',self.doc.name,''],
-					['Bad Debts Written Off','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Bank Charges','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Books and Periodicals','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Charity and Donations','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Commission on Sales','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Conveyance Expenses','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Customer Entertainment Expenses','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Depreciation Account','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Freight and Forwarding Charges','Indirect Expenses','Ledger','Yes','Chargeable','Expense',self.doc.name,''],
-					['Legal Expenses','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Miscellaneous Expenses','Indirect Expenses','Ledger','Yes','Chargeable','Expense',self.doc.name,''],
-					['Office Maintenance Expenses','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Office Rent','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Postal Expenses','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Print and Stationary','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Rounded Off','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Salary','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Sales Promotion Expenses','Indirect Expenses','Ledger','Yes','Chargeable','Expense',self.doc.name,''],
-					['Service Charges Paid','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Staff Welfare Expenses','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Telephone Expenses','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Travelling Expenses','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-					['Water and Electricity Expenses','Indirect Expenses','Ledger','Yes','Expense Account','Expense',self.doc.name,''],
-			['Income','','Group','Yes','','Income',self.doc.name,''],
-				['Direct Income','Income','Group','Yes','Income Account','Income',self.doc.name,''],
-					['Sales','Direct Income','Ledger','Yes','Income Account','Income',self.doc.name,''],
-					['Service','Direct Income','Ledger','Yes','Income Account','Income',self.doc.name,''],
-				['Indirect Income','Income','Group','Yes','Income Account','Income',self.doc.name,''],
-			['Source of Funds (Liabilities)','','Group','No','','Liability',self.doc.name,''],
-				['Capital Account','Source of Funds (Liabilities)','Group','No','','Liability',self.doc.name,''],
-					['Reserves and Surplus','Capital Account','Ledger','No','','Liability',self.doc.name,''],
-					['Shareholders Funds','Capital Account','Ledger','No','','Liability',self.doc.name,''],
-				['Current Liabilities','Source of Funds (Liabilities)','Group','No','','Liability',self.doc.name,''],
-					['Accounts Payable','Current Liabilities','Group','No','','Liability',self.doc.name,''],
-					['Stock Liabilities','Current Liabilities','Group','No','','Liability',self.doc.name,''],
-						['Stock Received But Not Billed', 'Stock Liabilities', 'Ledger', 
-							'No', '', 'Liability', self.doc.name, ''],					
-					['Duties and Taxes','Current Liabilities','Group','No','','Liability',self.doc.name,''],
-					['Loans (Liabilities)','Current Liabilities','Group','No','','Liability',self.doc.name,''],
-						['Secured Loans','Loans (Liabilities)','Group','No','','Liability',self.doc.name,''],
-						['Unsecured Loans','Loans (Liabilities)','Group','No','','Liability',self.doc.name,''],
-						['Bank Overdraft Account','Loans (Liabilities)','Group','No','','Liability',self.doc.name,''],
-				['Temporary Accounts (Liabilities)','Source of Funds (Liabilities)','Group','No','','Liability',self.doc.name,''],
-					['Temporary Account (Liabilities)','Temporary Accounts (Liabilities)','Ledger','No','','Liability',self.doc.name,'']
+			['Application of Funds (Assets)','','Group','','Balance Sheet',self.doc.name,''],
+				['Current Assets','Application of Funds (Assets)','Group','','Balance Sheet',self.doc.name,''],
+					['Accounts Receivable','Current Assets','Group','','Balance Sheet',self.doc.name,''],
+					['Bank Accounts','Current Assets','Group','Bank','Balance Sheet',self.doc.name,''],
+					['Cash In Hand','Current Assets','Group','Cash','Balance Sheet',self.doc.name,''],
+						['Cash','Cash In Hand','Ledger','Cash','Balance Sheet',self.doc.name,''],
+					['Loans and Advances (Assets)','Current Assets','Group','','Balance Sheet',self.doc.name,''],
+					['Securities and Deposits','Current Assets','Group','','Balance Sheet',self.doc.name,''],
+						['Earnest Money','Securities and Deposits','Ledger','','Balance Sheet',self.doc.name,''],
+					['Stock Assets','Current Assets','Group','','Balance Sheet',self.doc.name,''],
+					['Tax Assets','Current Assets','Group','','Balance Sheet',self.doc.name,''],
+				['Fixed Assets','Application of Funds (Assets)','Group','','Balance Sheet',self.doc.name,''],
+					['Capital Equipments','Fixed Assets','Ledger','Fixed Asset','Balance Sheet',self.doc.name,''],
+					['Computers','Fixed Assets','Ledger','Fixed Asset','Balance Sheet',self.doc.name,''],
+					['Furniture and Fixture','Fixed Assets','Ledger','Fixed Asset','Balance Sheet',self.doc.name,''],
+					['Office Equipments','Fixed Assets','Ledger','Fixed Asset','Balance Sheet',self.doc.name,''],
+					['Plant and Machinery','Fixed Assets','Ledger','Fixed Asset','Balance Sheet',self.doc.name,''],
+				['Investments','Application of Funds (Assets)','Group','','Balance Sheet',self.doc.name,''],
+				['Temporary Accounts (Assets)','Application of Funds (Assets)','Group','','Balance Sheet',self.doc.name,''],
+					['Temporary Account (Assets)','Temporary Accounts (Assets)','Ledger','','Balance Sheet',self.doc.name,''],
+			['Expenses','','Group','Expense Account','Profit and Loss',self.doc.name,''],
+				['Direct Expenses','Expenses','Group','Expense Account','Profit and Loss',self.doc.name,''],
+					['Stock Expenses','Direct Expenses','Group','Expense Account','Profit and Loss',self.doc.name,''],
+						['Cost of Goods Sold','Stock Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+						['Stock Adjustment','Stock Expenses','Ledger','Stock Adjustment','Profit and Loss',self.doc.name,''],
+						['Expenses Included In Valuation', "Stock Expenses", 'Ledger', 'Expenses Included In Valuation', 'Profit and Loss', self.doc.name, ''],
+				['Indirect Expenses','Expenses','Group','Expense Account','Profit and Loss',self.doc.name,''],
+					['Advertising and Publicity','Indirect Expenses','Ledger','Chargeable','Profit and Loss',self.doc.name,''],
+					['Bad Debts Written Off','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Bank Charges','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Books and Periodicals','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Charity and Donations','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Commission on Sales','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Conveyance Expenses','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Customer Entertainment Expenses','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Depreciation Account','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Freight and Forwarding Charges','Indirect Expenses','Ledger','Chargeable','Profit and Loss',self.doc.name,''],
+					['Legal Expenses','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Miscellaneous Expenses','Indirect Expenses','Ledger','Chargeable','Profit and Loss',self.doc.name,''],
+					['Office Maintenance Expenses','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Office Rent','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Postal Expenses','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Print and Stationary','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Rounded Off','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Salary','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Sales Promotion Expenses','Indirect Expenses','Ledger','Chargeable','Profit and Loss',self.doc.name,''],
+					['Service Charges Paid','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Staff Welfare Expenses','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Telephone Expenses','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Travelling Expenses','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+					['Water and Electricity Expenses','Indirect Expenses','Ledger','Expense Account','Profit and Loss',self.doc.name,''],
+			['Income','','Group','','Profit and Loss',self.doc.name,''],
+				['Direct Income','Income','Group','Income Account','Profit and Loss',self.doc.name,''],
+					['Sales','Direct Income','Ledger','Income Account','Profit and Loss',self.doc.name,''],
+					['Service','Direct Income','Ledger','Income Account','Profit and Loss',self.doc.name,''],
+				['Indirect Income','Profit and Loss','Group','Income Account','Profit and Loss',self.doc.name,''],
+			['Source of Funds (Liabilities)','','Group','','Balance Sheet',self.doc.name,''],
+				['Capital Account','Source of Funds (Liabilities)','Group','','Balance Sheet',self.doc.name,''],
+					['Reserves and Surplus','Capital Account','Ledger','','Balance Sheet',self.doc.name,''],
+					['Shareholders Funds','Capital Account','Ledger','','Balance Sheet',self.doc.name,''],
+				['Current Liabilities','Source of Funds (Liabilities)','Group','','Balance Sheet',self.doc.name,''],
+					['Accounts Payable','Current Liabilities','Group','','Balance Sheet',self.doc.name,''],
+					['Stock Liabilities','Current Liabilities','Group','','Balance Sheet',self.doc.name,''],
+						['Stock Received But Not Billed', 'Stock Liabilities', 'Ledger', 'Stock Received But Not Billed', 'Balance Sheet', self.doc.name, ''],					
+					['Duties and Taxes','Current Liabilities','Group','','Balance Sheet',self.doc.name,''],
+					['Loans (Liabilities)','Current Liabilities','Group','','Balance Sheet',self.doc.name,''],
+						['Secured Loans','Loans (Liabilities)','Group','','Balance Sheet',self.doc.name,''],
+						['Unsecured Loans','Loans (Liabilities)','Group','','Balance Sheet',self.doc.name,''],
+						['Bank Overdraft Account','Loans (Liabilities)','Group','','Balance Sheet',self.doc.name,''],
+				['Temporary Accounts (Liabilities)','Source of Funds (Liabilities)','Group','','Balance Sheet',self.doc.name,''],
+					['Temporary Account (Liabilities)','Temporary Accounts (Liabilities)','Ledger','','Balance Sheet',self.doc.name,'']
 		]
 		
 		acc_list_india = [
-			['CENVAT Capital Goods','Tax Assets','Ledger','No','Chargeable','Asset',self.doc.name,''],
-			['CENVAT','Tax Assets','Ledger','No','Chargeable','Asset',self.doc.name,''],
-			['CENVAT Service Tax','Tax Assets','Ledger','No','Chargeable','Asset',self.doc.name,''],
-			['CENVAT Service Tax Cess 1','Tax Assets','Ledger','No','Chargeable','Asset',self.doc.name,''],
-			['CENVAT Service Tax Cess 2','Tax Assets','Ledger','No','Chargeable','Asset',self.doc.name,''],
-			['CENVAT Edu Cess','Tax Assets','Ledger','No','Chargeable','Asset',self.doc.name,''],
-			['CENVAT SHE Cess','Tax Assets','Ledger','No','Chargeable','Asset',self.doc.name,''],
-			['Excise Duty 4','Tax Assets','Ledger','No','Tax','Asset',self.doc.name,'4.00'],
-			['Excise Duty 8','Tax Assets','Ledger','No','Tax','Asset',self.doc.name,'8.00'],
-			['Excise Duty 10','Tax Assets','Ledger','No','Tax','Asset',self.doc.name,'10.00'],
-			['Excise Duty 14','Tax Assets','Ledger','No','Tax','Asset',self.doc.name,'14.00'],
-			['Excise Duty Edu Cess 2','Tax Assets','Ledger','No','Tax','Asset',self.doc.name,'2.00'],
-			['Excise Duty SHE Cess 1','Tax Assets','Ledger','No','Tax','Asset',self.doc.name,'1.00'],
-			['P L A','Tax Assets','Ledger','No','Chargeable','Asset',self.doc.name,''],
-			['P L A - Cess Portion','Tax Assets','Ledger','No','Chargeable','Asset',self.doc.name,''],
-			['Edu. Cess on Excise','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'2.00'],
-			['Edu. Cess on Service Tax','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'2.00'],
-			['Edu. Cess on TDS','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'2.00'],
-			['Excise Duty @ 4','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'4.00'],
-			['Excise Duty @ 8','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'8.00'],
-			['Excise Duty @ 10','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'10.00'],
-			['Excise Duty @ 14','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'14.00'],
-			['Service Tax','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'10.3'],
-			['SHE Cess on Excise','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'1.00'],
-			['SHE Cess on Service Tax','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'1.00'],
-			['SHE Cess on TDS','Duties and Taxes','Ledger','No','Tax','Liability',self.doc.name,'1.00'],
-			['Professional Tax','Duties and Taxes','Ledger','No','Chargeable','Liability',self.doc.name,''],
-			['VAT','Duties and Taxes','Ledger','No','Chargeable','Liability',self.doc.name,''],
-			['TDS (Advertisement)','Duties and Taxes','Ledger','No','Chargeable','Liability',self.doc.name,''],
-			['TDS (Commission)','Duties and Taxes','Ledger','No','Chargeable','Liability',self.doc.name,''],
-			['TDS (Contractor)','Duties and Taxes','Ledger','No','Chargeable','Liability',self.doc.name,''],
-			['TDS (Interest)','Duties and Taxes','Ledger','No','Chargeable','Liability',self.doc.name,''],
-			['TDS (Rent)','Duties and Taxes','Ledger','No','Chargeable','Liability',self.doc.name,''],
-			['TDS (Salary)','Duties and Taxes','Ledger','No','Chargeable','Liability',self.doc.name,'']
+			['CENVAT Capital Goods','Tax Assets','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['CENVAT','Tax Assets','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['CENVAT Service Tax','Tax Assets','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['CENVAT Service Tax Cess 1','Tax Assets','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['CENVAT Service Tax Cess 2','Tax Assets','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['CENVAT Edu Cess','Tax Assets','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['CENVAT SHE Cess','Tax Assets','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['Excise Duty 4','Tax Assets','Ledger','Tax','Balance Sheet',self.doc.name,'4.00'],
+			['Excise Duty 8','Tax Assets','Ledger','Tax','Balance Sheet',self.doc.name,'8.00'],
+			['Excise Duty 10','Tax Assets','Ledger','Tax','Balance Sheet',self.doc.name,'10.00'],
+			['Excise Duty 14','Tax Assets','Ledger','Tax','Balance Sheet',self.doc.name,'14.00'],
+			['Excise Duty Edu Cess 2','Tax Assets','Ledger','Tax','Balance Sheet',self.doc.name,'2.00'],
+			['Excise Duty SHE Cess 1','Tax Assets','Ledger','Tax','Balance Sheet',self.doc.name,'1.00'],
+			['P L A','Tax Assets','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['P L A - Cess Portion','Tax Assets','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['Edu. Cess on Excise','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'2.00'],
+			['Edu. Cess on Service Tax','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'2.00'],
+			['Edu. Cess on TDS','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'2.00'],
+			['Excise Duty @ 4','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'4.00'],
+			['Excise Duty @ 8','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'8.00'],
+			['Excise Duty @ 10','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'10.00'],
+			['Excise Duty @ 14','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'14.00'],
+			['Service Tax','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'10.3'],
+			['SHE Cess on Excise','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'1.00'],
+			['SHE Cess on Service Tax','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'1.00'],
+			['SHE Cess on TDS','Duties and Taxes','Ledger','Tax','Balance Sheet',self.doc.name,'1.00'],
+			['Professional Tax','Duties and Taxes','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['VAT','Duties and Taxes','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['TDS (Advertisement)','Duties and Taxes','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['TDS (Commission)','Duties and Taxes','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['TDS (Contractor)','Duties and Taxes','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['TDS (Interest)','Duties and Taxes','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['TDS (Rent)','Duties and Taxes','Ledger','Chargeable','Balance Sheet',self.doc.name,''],
+			['TDS (Salary)','Duties and Taxes','Ledger','Chargeable','Balance Sheet',self.doc.name,'']
 		 ]
 		# load common account heads
 		for d in acc_list_common:
diff --git a/erpnext/setup/doctype/company/test_company.py b/erpnext/setup/doctype/company/test_company.py
index 482ba1d..8c12fc7 100644
--- a/erpnext/setup/doctype/company/test_company.py
+++ b/erpnext/setup/doctype/company/test_company.py
@@ -9,7 +9,7 @@
 class TestCompany(unittest.TestCase):
 	def test_coa(self):
 		for country, chart_name in frappe.db.sql("""select country, chart_name 
-			from `tabChart of Accounts` order by country""", as_list=1):
+			from `tabChart of Accounts` where country="India" order by country""", as_list=1):
 				print "Country: ", country
 				print "Chart Name: ", chart_name
 				
diff --git a/erpnext/setup/doctype/email_digest/email_digest.py b/erpnext/setup/doctype/email_digest/email_digest.py
index 5b57837..c46c43e 100644
--- a/erpnext/setup/doctype/email_digest/email_digest.py
+++ b/erpnext/setup/doctype/email_digest/email_digest.py
@@ -158,9 +158,9 @@
 			self.meta.get_label("income_year_to_date"))
 			
 	def get_bank_balance(self):
-		# account is of type "Bank or Cash"
+		# account is of type "Bank" or "Cash"
 		accounts = dict([[a["name"], [a["account_name"], 0]] for a in self.get_accounts()
-			if a["account_type"]=="Bank or Cash"])
+			if a["account_type"] in ["Bank", "Cash"]])
 		ackeys = accounts.keys()
 		
 		for gle in self.get_gl_entries(None, self.to_date):
@@ -211,9 +211,9 @@
 		accounts = [a["name"] for a in self.get_accounts()
 			if a["master_type"]==party_type]
 
-		# account is "Bank or Cash"
+		# account is "Bank" or "Cash"
 		bc_accounts = [esc(a["name"], "()|") for a in self.get_accounts() 
-			if a["account_type"]=="Bank or Cash"]
+			if a["account_type"] in ["Bank", "Cash"]]
 		bc_regex = re.compile("""(%s)""" % "|".join(bc_accounts))
 		
 		total = 0
diff --git a/erpnext/setup/doctype/email_digest/email_digest.txt b/erpnext/setup/doctype/email_digest/email_digest.txt
index 2ac3998..6660c25 100644
--- a/erpnext/setup/doctype/email_digest/email_digest.txt
+++ b/erpnext/setup/doctype/email_digest/email_digest.txt
@@ -2,7 +2,7 @@
  {
   "creation": "2013-02-21 14:15:31", 
   "docstatus": 0, 
-  "modified": "2014-01-20 17:48:39", 
+  "modified": "2014-03-19 11:39:27", 
   "modified_by": "Administrator", 
   "owner": "Administrator"
  }, 
@@ -119,7 +119,7 @@
   "label": "Income Year to Date"
  }, 
  {
-  "description": "Balances of Accounts of type \"Bank or Cash\"", 
+  "description": "Balances of Accounts of type \"Bank\" or \"Cash\"", 
   "doctype": "DocField", 
   "fieldname": "bank_balance", 
   "fieldtype": "Check", 
diff --git a/erpnext/setup/page/setup_wizard/setup_wizard.js b/erpnext/setup/page/setup_wizard/setup_wizard.js
index 7488b9f..a8e6380 100644
--- a/erpnext/setup/page/setup_wizard/setup_wizard.js
+++ b/erpnext/setup/page/setup_wizard/setup_wizard.js
@@ -113,6 +113,7 @@
 							frappe.datetime.add_days(frappe.datetime.add_months(
 								frappe.datetime.user_to_obj(slide.get_input("fy_start_date").val()), 12), -1);
 						slide.get_input("fy_end_date").val(frappe.datetime.obj_to_user(year_end_date));
+
 					});
 				}
 			},
@@ -128,6 +129,8 @@
 						options: "", fieldtype: 'Select'},
 					{fieldname:'timezone', label: frappe._('Time Zone'), reqd:1,
 						options: "", fieldtype: 'Select'},
+					{fieldname:'chart_of_accounts', label: frappe._('Chart of Accounts'), 
+						options: "", fieldtype: 'Select'}
 				],
 				help: frappe._('Select your home country and check the timezone and currency.'),
 				onload: function(slide, form) {
@@ -158,6 +161,17 @@
 						}
 						// add all timezones at the end, so that user has the option to change it to any timezone
 						$timezone.add_options([""].concat(erpnext.all_timezones));
+						
+						// get country specific chart of accounts
+						frappe.call({
+							method: "erpnext.accounts.doctype.chart_of_accounts.chart_of_accounts.get_charts_for_country",
+							args: {"country": country},
+							callback: function(r) {
+								if(r.message) 
+									slide.get_input("chart_of_accounts").empty()
+										.add_options([""].concat(r.message));
+							}
+						})
 					});
 				}
 			},
diff --git a/erpnext/setup/page/setup_wizard/setup_wizard.py b/erpnext/setup/page/setup_wizard/setup_wizard.py
index 612adf8..eba79d8 100644
--- a/erpnext/setup/page/setup_wizard/setup_wizard.py
+++ b/erpnext/setup/page/setup_wizard/setup_wizard.py
@@ -80,7 +80,7 @@
 		'year_end_date': args.get('fy_end_date'),
 	}]).insert()
 
-	
+	print args
 	# Company
 	frappe.bean([{
 		"doctype":"Company",
@@ -88,7 +88,8 @@
 		'company_name':args.get('company_name'),
 		'abbr':args.get('company_abbr'),
 		'default_currency':args.get('currency'),
-		'country': args.get('country')
+		'country': args.get('country'),
+		'chart_of_accounts': args.get(('chart_of_accounts')),
 	}]).insert()
 	
 	args["curr_fiscal_year"] = curr_fiscal_year
@@ -229,7 +230,7 @@
 				"parent_account": "Duties and Taxes - " + args.get("company_abbr"),
 				"account_name": args.get("tax_" + str(i)),
 				"group_or_ledger": "Ledger",
-				"is_pl_account": "No",
+				"report_type": "Balance Sheet",
 				"account_type": "Tax",
 				"tax_rate": args.get("tax_rate_" + str(i))
 			}).insert()
diff --git a/erpnext/stock/doctype/delivery_note/delivery_note.js b/erpnext/stock/doctype/delivery_note/delivery_note.js
index 6743cd3..371c093 100644
--- a/erpnext/stock/doctype/delivery_note/delivery_note.js
+++ b/erpnext/stock/doctype/delivery_note/delivery_note.js
@@ -217,8 +217,7 @@
 	cur_frm.fields_dict['delivery_note_details'].grid.get_field('expense_account').get_query = function(doc) {
 		return {
 			filters: {
-				"is_pl_account": "Yes",
-				"root_type": "Expense",
+				"report_type": "Profit and Loss",
 				"company": doc.company,
 				"group_or_ledger": "Ledger"
 			}
diff --git a/erpnext/stock/doctype/item/item.js b/erpnext/stock/doctype/item/item.js
index d4e31ee..3cae599 100644
--- a/erpnext/stock/doctype/item/item.js
+++ b/erpnext/stock/doctype/item/item.js
@@ -55,8 +55,8 @@
 cur_frm.fields_dict['expense_account'].get_query = function(doc) {
 	return {
 		filters: {
-			'root_type': "Expense",
-			'group_or_ledger': "Ledger"
+			"report_type": "Profit and Loss",
+			"group_or_ledger": "Ledger"
 		}
 	}
 }
@@ -66,7 +66,7 @@
 cur_frm.fields_dict['income_account'].get_query = function(doc) {
 	return {
 		filters: {
-			'root_type': "Income",
+			"report_type": "Profit and Loss",
 			'group_or_ledger': "Ledger",
 			'account_type': "Income Account"
 		}
diff --git a/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py b/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
index 48a164c..7eef0a4 100644
--- a/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
+++ b/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
@@ -291,7 +291,7 @@
 			msgprint(_("Please enter Expense Account"), raise_exception=1)
 		elif not frappe.db.sql("""select * from `tabStock Ledger Entry`"""):
 			if frappe.db.get_value("Account", self.doc.expense_account, 
-					"is_pl_account") == "Yes":
+					"report_type") == "Profit and Loss":
 				msgprint(_("""Expense Account can not be a PL Account, as this stock \
 					reconciliation is an opening entry. \
 					Please select 'Temporary Account (Liabilities)' or relevant account"""),