diff --git a/erpnext/buying/doctype/purchase_common/purchase_common.js b/erpnext/buying/doctype/purchase_common/purchase_common.js
index c3ef365..3c63508 100644
--- a/erpnext/buying/doctype/purchase_common/purchase_common.js
+++ b/erpnext/buying/doctype/purchase_common/purchase_common.js
@@ -75,7 +75,7 @@
 	},
 
 	buying_price_list: function() {
-		this.get_price_list_currency("Buying");
+		this.apply_price_list();
 	},
 
 	price_list_rate: function(doc, cdt, cdn) {
diff --git a/erpnext/controllers/accounts_controller.py b/erpnext/controllers/accounts_controller.py
index df5370a..3df62e7 100644
--- a/erpnext/controllers/accounts_controller.py
+++ b/erpnext/controllers/accounts_controller.py
@@ -5,7 +5,7 @@
 import frappe
 from frappe import _, throw
 from frappe.utils import flt, cint, today
-from erpnext.setup.utils import get_company_currency
+from erpnext.setup.utils import get_company_currency, get_exchange_rate
 from erpnext.accounts.utils import get_fiscal_year, validate_fiscal_year
 from erpnext.utilities.transaction_base import TransactionBase
 import json
@@ -68,7 +68,7 @@
 					self.plc_conversion_rate = 1.0
 
 				elif not self.plc_conversion_rate:
-					self.plc_conversion_rate = self.get_exchange_rate(
+					self.plc_conversion_rate = get_exchange_rate(
 						self.price_list_currency, company_currency)
 
 			# currency
@@ -78,13 +78,9 @@
 			elif self.currency == company_currency:
 				self.conversion_rate = 1.0
 			elif not self.conversion_rate:
-				self.conversion_rate = self.get_exchange_rate(self.currency,
+				self.conversion_rate = get_exchange_rate(self.currency,
 					company_currency)
 
-	def get_exchange_rate(self, from_currency, to_currency):
-		exchange = "%s-%s" % (from_currency, to_currency)
-		return flt(frappe.db.get_value("Currency Exchange", exchange, "exchange_rate"))
-
 	def set_missing_item_details(self):
 		"""set missing item values"""
 		from erpnext.stock.get_item_details import get_item_details
diff --git a/erpnext/public/js/transaction.js b/erpnext/public/js/transaction.js
index 3c99ced..1790a47 100644
--- a/erpnext/public/js/transaction.js
+++ b/erpnext/public/js/transaction.js
@@ -241,31 +241,13 @@
 		if(flt(this.frm.doc.conversion_rate)>0.0) {
 			if(this.frm.doc.ignore_pricing_rule) {
 				this.calculate_taxes_and_totals();
-			} else {
-				this.apply_pricing_rule();
+			} else if (!this.in_apply_price_list){
+				this.apply_price_list();
 			}
 
 		}
 	},
 
-	get_price_list_currency: function(buying_or_selling) {
-		var me = this;
-		var fieldname = buying_or_selling.toLowerCase() + "_price_list";
-		if(this.frm.doc[fieldname]) {
-			return this.frm.call({
-				method: "erpnext.setup.utils.get_price_list_currency",
-				args: {
-					price_list: this.frm.doc[fieldname],
-				},
-				callback: function(r) {
-					if(!r.exc) {
-						me.price_list_currency();
-					}
-				}
-			});
-		}
-	},
-
 	get_exchange_rate: function(from_currency, to_currency, callback) {
 		var exchange_name = from_currency + "-" + to_currency;
 		frappe.model.with_doc("Currency Exchange", exchange_name, function(name) {
@@ -277,22 +259,17 @@
 	price_list_currency: function() {
 		var me=this;
 		this.set_dynamic_labels();
-
-		var company_currency = this.get_company_currency();
-		if(this.frm.doc.price_list_currency !== company_currency) {
-			this.get_exchange_rate(this.frm.doc.price_list_currency, company_currency,
-				function(exchange_rate) {
-					if(exchange_rate) {
-						me.frm.set_value("plc_conversion_rate", exchange_rate);
-						me.plc_conversion_rate();
-					}
-				});
-		} else {
-			this.plc_conversion_rate();
-		}
+		this.set_plc_conversion_rate();
 	},
 
 	plc_conversion_rate: function() {
+		this.set_plc_conversion_rate();
+		if(!this.in_apply_price_list) {
+			this.apply_price_list();
+		}
+	},
+
+	set_plc_conversion_rate: function() {
 		if(this.frm.doc.price_list_currency === this.get_company_currency()) {
 			this.frm.set_value("plc_conversion_rate", 1.0);
 		}
@@ -351,9 +328,22 @@
 
 	apply_pricing_rule: function(item, calculate_taxes_and_totals) {
 		var me = this;
-		var item_list = this._get_item_list(item);
-		var args = {
-			"item_list": item_list,
+		return this.frm.call({
+			method: "erpnext.accounts.doctype.pricing_rule.pricing_rule.apply_pricing_rule",
+			args: {	args: this._get_args(item) },
+			callback: function(r) {
+				if (!r.exc) {
+					me._set_values_for_item_list(r.message);
+					if(calculate_taxes_and_totals) me.calculate_taxes_and_totals();
+				}
+			}
+		});
+	},
+
+	_get_args: function(item) {
+		var me = this;
+		return {
+			"item_list": this._get_item_list(item),
 			"customer": me.frm.doc.customer,
 			"customer_group": me.frm.doc.customer_group,
 			"territory": me.frm.doc.territory,
@@ -371,22 +361,6 @@
 			"parenttype": me.frm.doc.doctype,
 			"parent": me.frm.doc.name
 		};
-		return this.frm.call({
-			method: "erpnext.accounts.doctype.pricing_rule.pricing_rule.apply_pricing_rule",
-			args: {	args: args },
-			callback: function(r) {
-				if (!r.exc) {
-					$.each(r.message, function(i, d) {
-						$.each(d, function(k, v) {
-							if (["doctype", "name"].indexOf(k)===-1) {
-								frappe.model.set_value(d.doctype, d.name, k, v);
-							}
-						});
-					});
-					if(calculate_taxes_and_totals) me.calculate_taxes_and_totals();
-				}
-			}
-		});
 	},
 
 	_get_item_list: function(item) {
@@ -412,6 +386,33 @@
 		return item_list;
 	},
 
+	_set_values_for_item_list: function(children) {
+		$.each(children, function(i, d) {
+			$.each(d, function(k, v) {
+				if (["doctype", "name"].indexOf(k)===-1) {
+					frappe.model.set_value(d.doctype, d.name, k, v);
+				}
+			});
+		});
+	},
+
+	apply_price_list: function() {
+		var me = this;
+		return this.frm.call({
+			method: "erpnext.stock.get_item_details.apply_price_list",
+			args: {	args: this._get_args() },
+			callback: function(r) {
+				if (!r.exc) {
+					me.in_apply_price_list = true;
+					me.frm.set_value("price_list_currency", r.message.parent.price_list_currency);
+					me.frm.set_value("plc_conversion_rate", r.message.parent.plc_conversion_rate);
+					me.in_apply_price_list = false;
+					me._set_values_for_item_list(r.message.children);
+				}
+			}
+		});
+	},
+
 	included_in_print_rate: function(doc, cdt, cdn) {
 		var tax = frappe.get_doc(cdt, cdn);
 		try {
diff --git a/erpnext/selling/sales_common.js b/erpnext/selling/sales_common.js
index 2021490..fff7ef9 100644
--- a/erpnext/selling/sales_common.js
+++ b/erpnext/selling/sales_common.js
@@ -137,7 +137,7 @@
 	},
 
 	selling_price_list: function() {
-		this.get_price_list_currency("Selling");
+		this.apply_price_list();
 	},
 
 	price_list_rate: function(doc, cdt, cdn) {
diff --git a/erpnext/setup/utils.py b/erpnext/setup/utils.py
index a734ffd..e7d78ab 100644
--- a/erpnext/setup/utils.py
+++ b/erpnext/setup/utils.py
@@ -4,6 +4,7 @@
 from __future__ import unicode_literals
 import frappe
 from frappe import _, throw
+from frappe.utils import flt
 
 def get_company_currency(company):
 	currency = frappe.db.get_value("Company", company, "default_currency")
@@ -28,16 +29,6 @@
 		where lft<%s and rgt>%s order by lft desc""" % (doctype, "%s", "%s"), (lft, rgt))
 	return result or []
 
-@frappe.whitelist()
-def get_price_list_currency(price_list):
-	price_list_currency = frappe.db.get_value("Price List", {"name": price_list,
-		"enabled": 1}, "currency")
-
-	if not price_list_currency:
-		throw(_("Price List {0} is disabled").format(price_list))
-	else:
-		return {"price_list_currency": price_list_currency}
-
 def before_tests():
 	# complete setup if missing
 	from erpnext.setup.page.setup_wizard.setup_wizard import setup_account
@@ -64,3 +55,7 @@
 	frappe.db.sql("delete from `tabSalary Slip`")
 	frappe.db.sql("delete from `tabItem Price`")
 	frappe.db.commit()
+
+def get_exchange_rate(from_currency, to_currency):
+	exchange = "%s-%s" % (from_currency, to_currency)
+	return flt(frappe.db.get_value("Currency Exchange", exchange, "exchange_rate"))
diff --git a/erpnext/startup/__init__.py b/erpnext/startup/__init__.py
index 576ab05..a3b96cf 100644
--- a/erpnext/startup/__init__.py
+++ b/erpnext/startup/__init__.py
@@ -2,17 +2,17 @@
 
 # ERPNext - web based ERP (http://erpnext.com)
 # Copyright (C) 2012 Web Notes Technologies Pvt Ltd
-# 
+#
 # This program is free software: you can redistribute it and/or modify
 # it under the terms of the GNU General Public License as published by
 # the Free Software Foundation, either version 3 of the License, or
 # (at your option) any later version.
-# 
+#
 # This program is distributed in the hope that it will be useful,
 # but WITHOUT ANY WARRANTY; without even the implied warranty of
 # MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
 # GNU General Public License for more details.
-# 
+#
 # You should have received a copy of the GNU General Public License
 # along with this program.  If not, see <http://www.gnu.org/licenses/>.
 
@@ -26,11 +26,3 @@
 	"Company": "company",
 	"Territory": "territory"
 }
-
-def get_monthly_bulk_mail_limit():
-	import frappe
-	# if global settings, then 500 or unlimited
-	if frappe.db.get_value('Outgoing Email Settings', None, 'mail_server'):
-		return 999999
-	else:
-		return 500
diff --git a/erpnext/stock/doctype/item_price/item_price.json b/erpnext/stock/doctype/item_price/item_price.json
index 6b50349..e3535b1 100644
--- a/erpnext/stock/doctype/item_price/item_price.json
+++ b/erpnext/stock/doctype/item_price/item_price.json
@@ -1,7 +1,7 @@
 {
  "allow_import": 1, 
  "autoname": "RFD/.#####", 
- "creation": "2013-05-02 16:29:48.000000", 
+ "creation": "2013-05-02 16:29:48", 
  "description": "Multiple Item prices.", 
  "docstatus": 0, 
  "doctype": "DocType", 
@@ -73,6 +73,15 @@
    "search_index": 0
   }, 
   {
+   "fieldname": "currency", 
+   "fieldtype": "Link", 
+   "hidden": 0, 
+   "label": "Currency", 
+   "options": "Currency", 
+   "permlevel": 0, 
+   "read_only": 1
+  }, 
+  {
    "fieldname": "col_br_1", 
    "fieldtype": "Column Break", 
    "permlevel": 0
@@ -90,22 +99,13 @@
    "label": "Item Description", 
    "permlevel": 0, 
    "read_only": 1
-  }, 
-  {
-   "fieldname": "currency", 
-   "fieldtype": "Link", 
-   "hidden": 1, 
-   "label": "Currency", 
-   "options": "Currency", 
-   "permlevel": 0, 
-   "read_only": 1
   }
  ], 
  "icon": "icon-flag", 
  "idx": 1, 
  "in_create": 0, 
  "istable": 0, 
- "modified": "2014-02-10 17:27:32.000000", 
+ "modified": "2014-07-08 15:38:23.653034", 
  "modified_by": "Administrator", 
  "module": "Stock", 
  "name": "Item Price", 
diff --git a/erpnext/stock/get_item_details.py b/erpnext/stock/get_item_details.py
index fe320d1..f9a1d9f 100644
--- a/erpnext/stock/get_item_details.py
+++ b/erpnext/stock/get_item_details.py
@@ -7,6 +7,7 @@
 from frappe.utils import flt, cint, add_days
 import json
 from erpnext.accounts.doctype.pricing_rule.pricing_rule import get_pricing_rule_for_item
+from erpnext.setup.utils import get_exchange_rate
 
 @frappe.whitelist()
 def get_item_details(args):
@@ -30,27 +31,7 @@
 			"ignore_pricing_rule": 0/1
 		}
 	"""
-
-	if isinstance(args, basestring):
-		args = json.loads(args)
-
-	args = frappe._dict(args)
-
-	if not args.get("transaction_type"):
-		if args.get("parenttype")=="Material Request" or \
-				frappe.get_meta(args.get("parenttype")).get_field("supplier"):
-			args.transaction_type = "buying"
-		else:
-			args.transaction_type = "selling"
-
-	if not args.get("price_list"):
-		args.price_list = args.get("selling_price_list") or args.get("buying_price_list")
-
-	if args.barcode:
-		args.item_code = get_item_code(barcode=args.barcode)
-	elif not args.item_code and args.serial_no:
-		args.item_code = get_item_code(serial_no=args.serial_no)
-
+	args = process_args(args)
 	item_doc = frappe.get_doc("Item", args.item_code)
 	item = item_doc
 
@@ -86,6 +67,29 @@
 
 	return out
 
+def process_args(args):
+	if isinstance(args, basestring):
+		args = json.loads(args)
+
+	args = frappe._dict(args)
+
+	if not args.get("transaction_type"):
+		if args.get("parenttype")=="Material Request" or \
+				frappe.get_meta(args.get("parenttype")).get_field("supplier"):
+			args.transaction_type = "buying"
+		else:
+			args.transaction_type = "selling"
+
+	if not args.get("price_list"):
+		args.price_list = args.get("selling_price_list") or args.get("buying_price_list")
+
+	if args.barcode:
+		args.item_code = get_item_code(barcode=args.barcode)
+	elif not args.item_code and args.serial_no:
+		args.item_code = get_item_code(serial_no=args.serial_no)
+
+	return args
+
 def get_item_code(barcode=None, serial_no=None):
 	if barcode:
 		item_code = frappe.db.get_value("Item", {"barcode": barcode})
@@ -273,3 +277,74 @@
 def get_available_qty(item_code, warehouse):
 	return frappe.db.get_value("Bin", {"item_code": item_code, "warehouse": warehouse},
 		["projected_qty", "actual_qty"], as_dict=True) or {}
+
+@frappe.whitelist()
+def apply_price_list(args):
+	"""
+		args = {
+			"item_list": [{"doctype": "", "name": "", "item_code": "", "brand": "", "item_group": ""}, ...],
+			"conversion_rate": 1.0,
+			"selling_price_list": None,
+			"price_list_currency": None,
+			"plc_conversion_rate": 1.0,
+			"parenttype": "",
+			"parent": "",
+			"supplier": None,
+			"transaction_date": None,
+			"conversion_rate": 1.0,
+			"buying_price_list": None,
+			"transaction_type": "selling",
+			"ignore_pricing_rule": 0/1
+		}
+	"""
+	args = process_args(args)
+
+	parent = get_price_list_currency_and_exchange_rate(args)
+	children = []
+
+	if "item_list" in args:
+		item_list = args.get("item_list")
+		del args["item_list"]
+
+		args.update(parent)
+
+		for item in item_list:
+			args_copy = frappe._dict(args.copy())
+			args_copy.update(item)
+			item_details = apply_price_list_on_item(args_copy)
+			children.append(item_details)
+
+	return {
+		"parent": parent,
+		"children": children
+	}
+
+def apply_price_list_on_item(args):
+	item_details = frappe._dict()
+	item_doc = frappe.get_doc("Item", args.item_code)
+	get_price_list_rate(args, item_doc, item_details)
+	item_details.discount_percentage = 0.0
+	item_details.update(get_pricing_rule_for_item(args))
+	return item_details
+
+def get_price_list_currency(price_list):
+	result = frappe.db.get_value("Price List", {"name": price_list,
+		"enabled": 1}, ["name", "currency"], as_dict=True)
+
+	if not result:
+		throw(_("Price List {0} is disabled").format(price_list))
+
+	return result.currency
+
+def get_price_list_currency_and_exchange_rate(args):
+	price_list_currency = get_price_list_currency(args.price_list)
+	plc_conversion_rate = args.plc_conversion_rate
+
+	if (not plc_conversion_rate) or (price_list_currency != args.price_list_currency):
+		plc_conversion_rate = get_exchange_rate(price_list_currency, args.currency) \
+			or plc_conversion_rate
+
+	return {
+		"price_list_currency": price_list_currency,
+		"plc_conversion_rate": plc_conversion_rate
+	}