diff --git a/erpnext/setup/doctype/company/company.js b/erpnext/setup/doctype/company/company.js
index 70e047a..dbfbc59 100644
--- a/erpnext/setup/doctype/company/company.js
+++ b/erpnext/setup/doctype/company/company.js
@@ -16,6 +16,14 @@
 				filters: {"is_additional_component": 1}
 			}
 		});
+
+		frm.set_df_property("create_chart_of_accounts_based_on", "read_only", frm.doc.parent_company ? 1 : 0);
+		frm.set_df_property("existing_company", "read_only", frm.doc.parent_company ? 1 : 0);
+		frm.set_query("parent_company", function() {
+			return {
+				filters: {"is_group": 1}
+			}
+		});
 	},
 
 	company_name: function(frm) {
@@ -28,6 +36,12 @@
 		}
 	},
 
+	parent_company: function(frm) {
+		if(!frm.doc.parent_company) return;
+		frm.set_value("create_chart_of_accounts_based_on", "Existing Company");
+		frm.set_value("existing_company", frm.doc.parent_company);
+	},
+
 	date_of_commencement: function(frm) {
 		if(frm.doc.date_of_commencement<frm.doc.date_of_incorporation)
 		{