diff --git a/erpnext/accounts/doctype/tax_withholding_category/tax_withholding_category.py b/erpnext/accounts/doctype/tax_withholding_category/tax_withholding_category.py
index ad3477e..1f2d980 100644
--- a/erpnext/accounts/doctype/tax_withholding_category/tax_withholding_category.py
+++ b/erpnext/accounts/doctype/tax_withholding_category/tax_withholding_category.py
@@ -302,7 +302,7 @@
 		"docstatus": 1,
 	}
 
-	if not tax_details.get("consider_party_ledger_amount") and doctype != "Sales Invoice":
+	if doctype != "Sales Invoice":
 		filters.update(
 			{"apply_tds": 1, "tax_withholding_category": tax_details.get("tax_withholding_category")}
 		)
diff --git a/erpnext/accounts/doctype/tax_withholding_category/test_tax_withholding_category.py b/erpnext/accounts/doctype/tax_withholding_category/test_tax_withholding_category.py
index 1e86cf5..bc4f670 100644
--- a/erpnext/accounts/doctype/tax_withholding_category/test_tax_withholding_category.py
+++ b/erpnext/accounts/doctype/tax_withholding_category/test_tax_withholding_category.py
@@ -110,9 +110,9 @@
 		invoices.append(pi1)
 
 		# Cumulative threshold is 30000
-		# Threshold calculation should be on both the invoices
-		# TDS should be applied only on 1000
-		self.assertEqual(pi1.taxes[0].tax_amount, 1000)
+		# Threshold calculation should be only on the Second invoice
+		# Second didn't breach, no TDS should be applied
+		self.assertEqual(pi1.taxes, [])
 
 		for d in reversed(invoices):
 			d.cancel()
diff --git a/erpnext/patches.txt b/erpnext/patches.txt
index e158df6..7e68ec1 100644
--- a/erpnext/patches.txt
+++ b/erpnext/patches.txt
@@ -326,7 +326,7 @@
 erpnext.patches.v15_0.update_asset_value_for_manual_depr_entries
 erpnext.patches.v15_0.update_gpa_and_ndb_for_assdeprsch
 erpnext.patches.v14_0.create_accounting_dimensions_for_closing_balance
-erpnext.patches.v14_0.update_closing_balances #10-05-2023
+erpnext.patches.v14_0.update_closing_balances #17-05-2023
 execute:frappe.db.set_single_value("Accounts Settings", "merge_similar_account_heads", 0)
 # below migration patches should always run last
 erpnext.patches.v14_0.migrate_gl_to_payment_ledger
diff --git a/erpnext/patches/v14_0/update_closing_balances.py b/erpnext/patches/v14_0/update_closing_balances.py
index bb108ab..d664677 100644
--- a/erpnext/patches/v14_0/update_closing_balances.py
+++ b/erpnext/patches/v14_0/update_closing_balances.py
@@ -13,8 +13,8 @@
 def execute():
 	frappe.db.truncate("Account Closing Balance")
 
+	i = 0
 	company_wise_order = {}
-	get_opening_entries = True
 	for pcv in frappe.db.get_all(
 		"Period Closing Voucher",
 		fields=["company", "posting_date", "name"],
@@ -29,6 +29,7 @@
 				pcv.posting_date, pcv.fiscal_year, company=pcv.company
 			)[1]
 
+			# get gl entries against pcv
 			gl_entries = frappe.db.get_all(
 				"GL Entry", filters={"voucher_no": pcv.name, "is_cancelled": 0}, fields=["*"]
 			)
@@ -37,20 +38,31 @@
 				entry["closing_date"] = pcv_doc.posting_date
 				entry["period_closing_voucher"] = pcv_doc.name
 
+			# get all gl entries for the year
 			closing_entries = frappe.db.get_all(
 				"GL Entry",
 				filters={
 					"is_cancelled": 0,
 					"voucher_no": ["!=", pcv.name],
-					"posting_date": ["<=", pcv.posting_date],
+					"posting_date": ["between", [pcv_doc.year_start_date, pcv.posting_date]],
+					"is_opening": "No",
 				},
 				fields=["*"],
 			)
 
+			if i == 0:
+				# add opening entries only for the first pcv
+				closing_entries += frappe.db.get_all(
+					"GL Entry",
+					filters={"is_cancelled": 0, "is_opening": "Yes"},
+					fields=["*"],
+				)
+
 			for entry in closing_entries:
 				entry["closing_date"] = pcv_doc.posting_date
 				entry["period_closing_voucher"] = pcv_doc.name
 
 			make_closing_entries(gl_entries + closing_entries, voucher_name=pcv.name)
 			company_wise_order[pcv.company].append(pcv.posting_date)
-			get_opening_entries = False
+
+			i += 1
diff --git a/erpnext/selling/doctype/quotation/quotation.py b/erpnext/selling/doctype/quotation/quotation.py
index 693fc92..61969fe 100644
--- a/erpnext/selling/doctype/quotation/quotation.py
+++ b/erpnext/selling/doctype/quotation/quotation.py
@@ -288,7 +288,7 @@
 			)
 
 		# sales team
-		for d in customer.get("sales_team"):
+		for d in customer.get("sales_team") or []:
 			target.append(
 				"sales_team",
 				{
diff --git a/erpnext/stock/utils.py b/erpnext/stock/utils.py
index fb52697..10654dd 100644
--- a/erpnext/stock/utils.py
+++ b/erpnext/stock/utils.py
@@ -256,8 +256,6 @@
 	if isinstance(args, str):
 		args = json.loads(args)
 
-	voucher_no = args.get("voucher_no") or args.get("name")
-
 	in_rate = None
 	if (args.get("serial_no") or "").strip():
 		in_rate = get_avg_purchase_rate(args.get("serial_no"))
@@ -280,12 +278,13 @@
 				in_rate = (
 					_get_fifo_lifo_rate(previous_stock_queue, args.get("qty") or 0, valuation_method)
 					if previous_stock_queue
-					else 0
+					else None
 				)
 		elif valuation_method == "Moving Average":
-			in_rate = previous_sle.get("valuation_rate") or 0
+			in_rate = previous_sle.get("valuation_rate")
 
 	if in_rate is None:
+		voucher_no = args.get("voucher_no") or args.get("name")
 		in_rate = get_valuation_rate(
 			args.get("item_code"),
 			args.get("warehouse"),