diff --git a/erpnext/config/stock.py b/erpnext/config/stock.py
index a98c40e..d6b18fd 100644
--- a/erpnext/config/stock.py
+++ b/erpnext/config/stock.py
@@ -105,6 +105,11 @@
 					"name": "Pricing Rule",
 					"description": _("Rules for applying pricing and discount.")
 				},
+				{
+					"type": "doctype",
+					"name": "Item Variant Settings",
+					"description": _("Item Variant Settings."),
+				},
 
 			]
 		},
diff --git a/erpnext/controllers/item_variant.py b/erpnext/controllers/item_variant.py
index 967c133..ff11eb2 100644
--- a/erpnext/controllers/item_variant.py
+++ b/erpnext/controllers/item_variant.py
@@ -180,10 +180,10 @@
 		# don't copy manufacturer values if based on part no
 		exclude_fields += ['manufacturer', 'manufacturer_part_no']
 
+	allow_fields = [d.field_name for d in frappe.get_all("Variant Field", fields = ['field_name'])]
 	for field in item.meta.fields:
 		# "Table" is part of `no_value_field` but we shouldn't ignore tables
-		if (field.fieldtype == 'Table' or field.fieldtype not in no_value_fields) \
-			and (not field.no_copy) and field.fieldname not in exclude_fields:
+		if (field.reqd or field.fieldname in allow_fields) and field.fieldname not in exclude_fields:
 			if variant.get(field.fieldname) != item.get(field.fieldname):
 				variant.set(field.fieldname, item.get(field.fieldname))
 	variant.variant_of = item.name
diff --git a/erpnext/controllers/tests/test_item_variant.py b/erpnext/controllers/tests/test_item_variant.py
index 9fc45d2..34d6360 100644
--- a/erpnext/controllers/tests/test_item_variant.py
+++ b/erpnext/controllers/tests/test_item_variant.py
@@ -4,6 +4,7 @@
 import json
 import unittest
 
+from erpnext.stock.doctype.item.test_item import set_item_variant_settings
 from erpnext.controllers.item_variant import copy_attributes_to_variant, make_variant_item_code
 
 # python 3 compatibility stuff
@@ -54,5 +55,7 @@
 
 class TestItemVariant(unittest.TestCase):
 	def test_tables_in_template_copied_to_variant(self):
+		fields = [{'field_name': 'quality_parameters'}]
+		set_item_variant_settings(fields)
 		variant = make_item_variant()
 		self.assertNotEqual(variant.get("quality_parameters"), [])
diff --git a/erpnext/docs/assets/img/stock/item_variants_settings.png b/erpnext/docs/assets/img/stock/item_variants_settings.png
new file mode 100644
index 0000000..82b909f
--- /dev/null
+++ b/erpnext/docs/assets/img/stock/item_variants_settings.png
Binary files differ
diff --git a/erpnext/docs/user/manual/en/stock/item/item-variants.md b/erpnext/docs/user/manual/en/stock/item/item-variants.md
index 8b6da16..eeee0e1 100644
--- a/erpnext/docs/user/manual/en/stock/item/item-variants.md
+++ b/erpnext/docs/user/manual/en/stock/item/item-variants.md
@@ -48,4 +48,11 @@
 <img class='screenshot' alt='Setup Item Variant by Manufacturer'
 	src='/docs/assets/img/stock/set-variant-by-mfg.png'>
 
-The naming of the variant will be the name (ID) of the template Item with a number suffix. e.g. "ITEM000" will have variant "ITEM000-1"
\ No newline at end of file
+The naming of the variant will be the name (ID) of the template Item with a number suffix. e.g. "ITEM000" will have variant "ITEM000-1"
+
+### Update Variants Based on Template
+To update the value in the variants items from the template item, select the respective fields first in the Item Variant Settings page. After that system will update the value of that fields in the variants if that values has been changed in the template item.
+
+To set the fields Goto Stock > Item Variant Settings
+<img class='screenshot' alt='Item Variant Settings'
+	src='/docs/assets/img/stock/item_variants_settings.png'>
diff --git a/erpnext/stock/doctype/item/item.js b/erpnext/stock/doctype/item/item.js
index 7837f8c..03b93c0 100644
--- a/erpnext/stock/doctype/item/item.js
+++ b/erpnext/stock/doctype/item/item.js
@@ -97,6 +97,12 @@
 			}
 			frappe.set_route('Form', 'Item', new_item.name);
 		});
+
+		if(frm.doc.has_variants) {
+			frm.add_custom_button(__("Item Variant Settings"), function() {
+				frappe.set_route("Form", "Item Variant Settings");
+			}, __("View"));
+		}
 	},
 
 	validate: function(frm){
diff --git a/erpnext/stock/doctype/item/item.py b/erpnext/stock/doctype/item/item.py
index f2ea1d8..a810665 100644
--- a/erpnext/stock/doctype/item/item.py
+++ b/erpnext/stock/doctype/item/item.py
@@ -100,6 +100,7 @@
 	def on_update(self):
 		invalidate_cache_for_item(self)
 		self.validate_name_with_item_group()
+		self.update_variants()
 		self.update_item_price()
 		self.update_template_item()
 
@@ -607,9 +608,24 @@
 
 			if not template_item.show_in_website:
 				template_item.show_in_website = 1
+				template_item.flags.dont_update_variants = True
 				template_item.flags.ignore_permissions = True
 				template_item.save()
 
+	def update_variants(self):
+			if self.flags.dont_update_variants:
+				return
+			if self.has_variants:
+				updated = []
+				variants = frappe.db.get_all("Item", fields=["item_code"], filters={"variant_of": self.name })
+				for d in variants:
+					variant = frappe.get_doc("Item", d)
+					copy_attributes_to_variant(self, variant)
+					variant.save()
+					updated.append(d.item_code)
+				if updated:
+					frappe.msgprint(_("Item Variants {0} updated").format(", ".join(updated)))
+
 	def validate_has_variants(self):
 		if not self.has_variants and frappe.db.get_value("Item", self.name, "has_variants"):
 			if frappe.db.exists("Item", {"variant_of": self.name}):
diff --git a/erpnext/stock/doctype/item/test_item.py b/erpnext/stock/doctype/item/test_item.py
index 2a8e434..34e3af6 100644
--- a/erpnext/stock/doctype/item/test_item.py
+++ b/erpnext/stock/doctype/item/test_item.py
@@ -119,6 +119,37 @@
 		variant.item_code = "_Test Variant Item-L-duplicate"
 		self.assertRaises(ItemVariantExistsError, variant.save)
 
+	def test_copy_fields_from_template_to_variants(self):
+		fields = [{'field_name': 'item_group'}, {'field_name': 'is_stock_item'}]
+		allow_fields = [d.get('field_name') for d in fields]
+		set_item_variant_settings(fields)
+
+		if not frappe.db.get_value('Item Attribute Value',
+			{'parent': 'Test Size', 'attribute_value': 'Extra Large'}, 'name'):
+			item_attribute = frappe.get_doc('Item Attribute', 'Test Size')
+			item_attribute.append('item_attribute_values', {
+				'attribute_value' : 'Extra Large',
+				'abbr': 'XL'
+			})
+			item_attribute.save()
+
+		variant = create_variant("_Test Variant Item", {"Test Size": "Extra Large"})
+		variant.item_code = "_Test Variant Item-XL"
+		variant.item_name = "_Test Variant Item-XL"
+		variant.save()
+
+		template = frappe.get_doc('Item', '_Test Variant Item')
+		template.item_group = "_Test Item Group D"
+		template.save()
+
+		variant = frappe.get_doc('Item', '_Test Variant Item-XL')
+		for fieldname in allow_fields:
+			self.assertEquals(template.get(fieldname), variant.get(fieldname))
+
+		template = frappe.get_doc('Item', '_Test Variant Item')
+		template.item_group = "_Test Item Group Desktops"
+		template.save()
+
 	def test_make_item_variant_with_numeric_values(self):
 		# cleanup
 		for d in frappe.db.get_all('Item', filters={'variant_of':
@@ -194,6 +225,9 @@
 			{"item_code": "Test Item for Merging 2", "warehouse": "_Test Warehouse 1 - _TC"}))
 
 	def test_item_variant_by_manufacturer(self):
+		fields = [{'field_name': 'description'}, {'field_name': 'variant_based_on'}]
+		set_item_variant_settings(fields)
+
 		if frappe.db.exists('Item', '_Test Variant Mfg'):
 			frappe.delete_doc('Item', '_Test Variant Mfg')
 		if frappe.db.exists('Item', '_Test Variant Mfg-1'):
@@ -227,6 +261,10 @@
 		self.assertEquals(variant.manufacturer, 'MSG1')
 		self.assertEquals(variant.manufacturer_part_no, '007')
 
+def set_item_variant_settings(fields):
+	doc = frappe.get_doc('Item Variant Settings')
+	doc.set('fields', fields)
+	doc.save()
 
 def make_item_variant():
 	if not frappe.db.exists("Item", "_Test Variant Item-S"):
diff --git a/erpnext/stock/doctype/item_variant_settings/__init__.py b/erpnext/stock/doctype/item_variant_settings/__init__.py
new file mode 100644
index 0000000..e69de29
--- /dev/null
+++ b/erpnext/stock/doctype/item_variant_settings/__init__.py
diff --git a/erpnext/stock/doctype/item_variant_settings/item_variant_settings.js b/erpnext/stock/doctype/item_variant_settings/item_variant_settings.js
new file mode 100644
index 0000000..cd7d8a4
--- /dev/null
+++ b/erpnext/stock/doctype/item_variant_settings/item_variant_settings.js
@@ -0,0 +1,18 @@
+// Copyright (c) 2017, Frappe Technologies Pvt. Ltd. and contributors
+// For license information, please see license.txt
+
+frappe.ui.form.on('Item Variant Settings', {
+	setup: function(frm) {
+		const allow_fields = [];
+		frappe.model.with_doctype('Item', () => {
+			frappe.get_meta('Item').fields.forEach(d => {
+				if(!in_list(['HTML', 'Section Break', 'Column Break', 'Button'], d.fieldtype) && !d.no_copy) {
+					allow_fields.push(d.fieldname);
+				}
+			});
+
+			const child = frappe.meta.get_docfield("Variant Field", "field_name", frm.doc.name);
+			child.options = allow_fields;
+		});
+	}
+});
diff --git a/erpnext/stock/doctype/item_variant_settings/item_variant_settings.json b/erpnext/stock/doctype/item_variant_settings/item_variant_settings.json
new file mode 100644
index 0000000..226a07c
--- /dev/null
+++ b/erpnext/stock/doctype/item_variant_settings/item_variant_settings.json
@@ -0,0 +1,143 @@
+{
+ "allow_copy": 0, 
+ "allow_guest_to_view": 0, 
+ "allow_import": 0, 
+ "allow_rename": 0, 
+ "beta": 0, 
+ "creation": "2017-08-29 16:38:31.173830", 
+ "custom": 0, 
+ "docstatus": 0, 
+ "doctype": "DocType", 
+ "document_type": "", 
+ "editable_grid": 1, 
+ "engine": "InnoDB", 
+ "fields": [
+  {
+   "allow_bulk_edit": 0, 
+   "allow_on_submit": 0, 
+   "bold": 0, 
+   "collapsible": 0, 
+   "columns": 0, 
+   "fieldname": "variant_fields", 
+   "fieldtype": "Section Break", 
+   "hidden": 0, 
+   "ignore_user_permissions": 0, 
+   "ignore_xss_filter": 0, 
+   "in_filter": 0, 
+   "in_global_search": 0, 
+   "in_list_view": 0, 
+   "in_standard_filter": 0, 
+   "label": "Variant Fields", 
+   "length": 0, 
+   "no_copy": 0, 
+   "permlevel": 0, 
+   "precision": "", 
+   "print_hide": 0, 
+   "print_hide_if_no_value": 0, 
+   "read_only": 0, 
+   "remember_last_selected_value": 0, 
+   "report_hide": 0, 
+   "reqd": 0, 
+   "search_index": 0, 
+   "set_only_once": 0, 
+   "unique": 0
+  }, 
+  {
+   "allow_bulk_edit": 0, 
+   "allow_on_submit": 0, 
+   "bold": 0, 
+   "collapsible": 0, 
+   "columns": 0, 
+   "fieldname": "fields", 
+   "fieldtype": "Table", 
+   "hidden": 0, 
+   "ignore_user_permissions": 0, 
+   "ignore_xss_filter": 0, 
+   "in_filter": 0, 
+   "in_global_search": 0, 
+   "in_list_view": 0, 
+   "in_standard_filter": 0, 
+   "label": "Fields", 
+   "length": 0, 
+   "no_copy": 0, 
+   "options": "Variant Field", 
+   "permlevel": 0, 
+   "precision": "", 
+   "print_hide": 0, 
+   "print_hide_if_no_value": 0, 
+   "read_only": 0, 
+   "remember_last_selected_value": 0, 
+   "report_hide": 0, 
+   "reqd": 0, 
+   "search_index": 0, 
+   "set_only_once": 0, 
+   "unique": 0
+  }
+ ], 
+ "has_web_view": 0, 
+ "hide_heading": 0, 
+ "hide_toolbar": 0, 
+ "idx": 0, 
+ "image_view": 0, 
+ "in_create": 0, 
+ "is_submittable": 0, 
+ "issingle": 1, 
+ "istable": 0, 
+ "max_attachments": 0, 
+ "modified": "2017-08-29 16:38:49.467749", 
+ "modified_by": "Administrator", 
+ "module": "Stock", 
+ "name": "Item Variant Settings", 
+ "name_case": "", 
+ "owner": "Administrator", 
+ "permissions": [
+  {
+   "amend": 0, 
+   "apply_user_permissions": 0, 
+   "cancel": 0, 
+   "create": 1, 
+   "delete": 0, 
+   "email": 1, 
+   "export": 0, 
+   "if_owner": 0, 
+   "import": 0, 
+   "permlevel": 0, 
+   "print": 1, 
+   "read": 1, 
+   "report": 0, 
+   "role": "System Manager", 
+   "set_user_permissions": 0, 
+   "share": 1, 
+   "submit": 0, 
+   "write": 1
+  }, 
+  {
+   "amend": 0, 
+   "apply_user_permissions": 0, 
+   "cancel": 0, 
+   "create": 1, 
+   "delete": 0, 
+   "email": 1, 
+   "export": 0, 
+   "if_owner": 0, 
+   "import": 0, 
+   "permlevel": 0, 
+   "print": 1, 
+   "read": 1, 
+   "report": 0, 
+   "role": "Item Manager", 
+   "set_user_permissions": 0, 
+   "share": 1, 
+   "submit": 0, 
+   "write": 1
+  }
+ ], 
+ "quick_entry": 1, 
+ "read_only": 0, 
+ "read_only_onload": 0, 
+ "show_name_in_global_search": 0, 
+ "sort_field": "modified", 
+ "sort_order": "DESC", 
+ "track_changes": 1, 
+ "track_seen": 0
+}
\ No newline at end of file
diff --git a/erpnext/stock/doctype/item_variant_settings/item_variant_settings.py b/erpnext/stock/doctype/item_variant_settings/item_variant_settings.py
new file mode 100644
index 0000000..26e08d1
--- /dev/null
+++ b/erpnext/stock/doctype/item_variant_settings/item_variant_settings.py
@@ -0,0 +1,9 @@
+# -*- coding: utf-8 -*-
+# Copyright (c) 2017, Frappe Technologies Pvt. Ltd. and contributors
+# For license information, please see license.txt
+
+from __future__ import unicode_literals
+from frappe.model.document import Document
+
+class ItemVariantSettings(Document):
+	pass
diff --git a/erpnext/stock/doctype/item_variant_settings/test_item_variant_settings.js b/erpnext/stock/doctype/item_variant_settings/test_item_variant_settings.js
new file mode 100644
index 0000000..3b3bf94
--- /dev/null
+++ b/erpnext/stock/doctype/item_variant_settings/test_item_variant_settings.js
@@ -0,0 +1,23 @@
+/* eslint-disable */
+// rename this file from _test_[name] to test_[name] to activate
+// and remove above this line
+
+QUnit.test("test: Item Variant Settings", function (assert) {
+	let done = assert.async();
+
+	// number of asserts
+	assert.expect(1);
+
+	frappe.run_serially([
+		// insert a new Item Variant Settings
+		() => frappe.tests.make('Item Variant Settings', [
+			// values to be set
+			{key: 'value'}
+		]),
+		() => {
+			assert.equal(cur_frm.doc.key, 'value');
+		},
+		() => done()
+	]);
+
+});
diff --git a/erpnext/stock/doctype/stock_entry/test_stock_entry.py b/erpnext/stock/doctype/stock_entry/test_stock_entry.py
index 7fa232e..4bcbcc4 100644
--- a/erpnext/stock/doctype/stock_entry/test_stock_entry.py
+++ b/erpnext/stock/doctype/stock_entry/test_stock_entry.py
@@ -11,6 +11,7 @@
 from erpnext.stock.doctype.stock_ledger_entry.stock_ledger_entry import StockFreezeError
 from erpnext.stock.stock_ledger import get_previous_sle
 from erpnext.stock.doctype.stock_reconciliation.test_stock_reconciliation import create_stock_reconciliation
+from erpnext.stock.doctype.item.test_item import set_item_variant_settings
 from frappe.tests.test_permissions import set_user_permission_doctypes
 from erpnext.stock.doctype.stock_entry.stock_entry_utils import make_stock_entry
 from erpnext.accounts.doctype.account.test_account import get_inventory_account
@@ -79,6 +80,19 @@
 		self._test_auto_material_request("_Test Item", material_request_type="Transfer")
 
 	def test_auto_material_request_for_variant(self):
+		fields = [{'field_name': 'reorder_levels'}]
+		set_item_variant_settings(fields)
+		template = frappe.get_doc("Item", "_Test Variant Item")
+
+		if not template.reorder_levels:
+			template.append('reorder_levels', {
+				"material_request_type": "Purchase",
+				"warehouse": "_Test Warehouse - _TC",
+				"warehouse_reorder_level": 20,
+				"warehouse_reorder_qty": 20
+			})
+
+		template.save()
 		self._test_auto_material_request("_Test Variant Item-S")
 
 	def test_auto_material_request_for_warehouse_group(self):
diff --git a/erpnext/stock/doctype/variant_field/__init__.py b/erpnext/stock/doctype/variant_field/__init__.py
new file mode 100644
index 0000000..e69de29
--- /dev/null
+++ b/erpnext/stock/doctype/variant_field/__init__.py
diff --git a/erpnext/stock/doctype/variant_field/test_variant_field.js b/erpnext/stock/doctype/variant_field/test_variant_field.js
new file mode 100644
index 0000000..2600a10
--- /dev/null
+++ b/erpnext/stock/doctype/variant_field/test_variant_field.js
@@ -0,0 +1,23 @@
+/* eslint-disable */
+// rename this file from _test_[name] to test_[name] to activate
+// and remove above this line
+
+QUnit.test("test: Variant Field", function (assert) {
+	let done = assert.async();
+
+	// number of asserts
+	assert.expect(1);
+
+	frappe.run_serially([
+		// insert a new Variant Field
+		() => frappe.tests.make('Variant Field', [
+			// values to be set
+			{key: 'value'}
+		]),
+		() => {
+			assert.equal(cur_frm.doc.key, 'value');
+		},
+		() => done()
+	]);
+
+});
diff --git a/erpnext/stock/doctype/variant_field/test_variant_field.py b/erpnext/stock/doctype/variant_field/test_variant_field.py
new file mode 100644
index 0000000..53024bd
--- /dev/null
+++ b/erpnext/stock/doctype/variant_field/test_variant_field.py
@@ -0,0 +1,9 @@
+# -*- coding: utf-8 -*-
+# Copyright (c) 2017, Frappe Technologies Pvt. Ltd. and Contributors
+# See license.txt
+from __future__ import unicode_literals
+
+import unittest
+
+class TestVariantField(unittest.TestCase):
+	pass
diff --git a/erpnext/stock/doctype/variant_field/variant_field.js b/erpnext/stock/doctype/variant_field/variant_field.js
new file mode 100644
index 0000000..13db3f9
--- /dev/null
+++ b/erpnext/stock/doctype/variant_field/variant_field.js
@@ -0,0 +1,8 @@
+// Copyright (c) 2017, Frappe Technologies Pvt. Ltd. and contributors
+// For license information, please see license.txt
+
+frappe.ui.form.on('Variant Field', {
+	refresh: function() {
+
+	}
+});
diff --git a/erpnext/stock/doctype/variant_field/variant_field.json b/erpnext/stock/doctype/variant_field/variant_field.json
new file mode 100644
index 0000000..ae90884
--- /dev/null
+++ b/erpnext/stock/doctype/variant_field/variant_field.json
@@ -0,0 +1,72 @@
+{
+ "allow_copy": 0, 
+ "allow_guest_to_view": 0, 
+ "allow_import": 0, 
+ "allow_rename": 0, 
+ "beta": 0, 
+ "creation": "2017-08-29 16:33:33.978574", 
+ "custom": 0, 
+ "docstatus": 0, 
+ "doctype": "DocType", 
+ "document_type": "", 
+ "editable_grid": 1, 
+ "engine": "InnoDB", 
+ "fields": [
+  {
+   "allow_bulk_edit": 0, 
+   "allow_on_submit": 0, 
+   "bold": 0, 
+   "collapsible": 0, 
+   "columns": 0, 
+   "fieldname": "field_name", 
+   "fieldtype": "Select", 
+   "hidden": 0, 
+   "ignore_user_permissions": 0, 
+   "ignore_xss_filter": 0, 
+   "in_filter": 0, 
+   "in_global_search": 0, 
+   "in_list_view": 1, 
+   "in_standard_filter": 0, 
+   "label": "Field Name", 
+   "length": 0, 
+   "no_copy": 0, 
+   "options": "", 
+   "permlevel": 0, 
+   "precision": "", 
+   "print_hide": 0, 
+   "print_hide_if_no_value": 0, 
+   "read_only": 0, 
+   "remember_last_selected_value": 0, 
+   "report_hide": 0, 
+   "reqd": 1, 
+   "search_index": 0, 
+   "set_only_once": 0, 
+   "unique": 0
+  }
+ ], 
+ "has_web_view": 0, 
+ "hide_heading": 0, 
+ "hide_toolbar": 0, 
+ "idx": 0, 
+ "image_view": 0, 
+ "in_create": 0, 
+ "is_submittable": 0, 
+ "issingle": 0, 
+ "istable": 1, 
+ "max_attachments": 0, 
+ "modified": "2017-08-29 17:19:20.353197", 
+ "modified_by": "Administrator", 
+ "module": "Stock", 
+ "name": "Variant Field", 
+ "name_case": "", 
+ "owner": "Administrator", 
+ "permissions": [], 
+ "quick_entry": 1, 
+ "read_only": 0, 
+ "read_only_onload": 0, 
+ "show_name_in_global_search": 0, 
+ "sort_field": "modified", 
+ "sort_order": "DESC", 
+ "track_changes": 1, 
+ "track_seen": 0
+}
\ No newline at end of file
diff --git a/erpnext/stock/doctype/variant_field/variant_field.py b/erpnext/stock/doctype/variant_field/variant_field.py
new file mode 100644
index 0000000..a77301e
--- /dev/null
+++ b/erpnext/stock/doctype/variant_field/variant_field.py
@@ -0,0 +1,9 @@
+# -*- coding: utf-8 -*-
+# Copyright (c) 2017, Frappe Technologies Pvt. Ltd. and contributors
+# For license information, please see license.txt
+
+from __future__ import unicode_literals
+from frappe.model.document import Document
+
+class VariantField(Document):
+	pass