diff --git a/accounts/doctype/purchase_invoice/purchase_invoice.py b/accounts/doctype/purchase_invoice/purchase_invoice.py
index 6c71fff..404627a 100644
--- a/accounts/doctype/purchase_invoice/purchase_invoice.py
+++ b/accounts/doctype/purchase_invoice/purchase_invoice.py
@@ -350,7 +350,7 @@
 		# item gl entries
 		stock_item_and_auto_accounting_for_stock = False
 		stock_items = self.get_stock_items()
-		rounding_diff = 0.0
+		# rounding_diff = 0.0
 		for item in self.doclist.get({"parentfield": "entries"}):
 			if auto_accounting_for_stock and item.item_code in stock_items:
 				if flt(item.valuation_rate):
@@ -359,13 +359,12 @@
 					# expense will be booked in sales invoice
 					stock_item_and_auto_accounting_for_stock = True
 					
-					valuation_amt = flt(flt(item.valuation_rate) * flt(item.qty) * \
-						flt(item.conversion_factor), self.precision("valuation_rate", item))
+					valuation_amt = item.amount + item.item_tax_amount + item.rm_supp_cost
 					
-					rounding_diff += (flt(item.amount, self.precision("amount", item)) + 
-						flt(item.item_tax_amount, self.precision("item_tax_amount", item)) + 
-						flt(item.rm_supp_cost, self.precision("rm_supp_cost", item)) - 
-						valuation_amt)
+					# rounding_diff += (flt(item.amount, self.precision("amount", item)) + 
+					# 	flt(item.item_tax_amount, self.precision("item_tax_amount", item)) + 
+					# 	flt(item.rm_supp_cost, self.precision("rm_supp_cost", item)) - 
+					# 	valuation_amt)
 					
 					gl_entries.append(
 						self.get_gl_dict({
@@ -394,11 +393,11 @@
 			expenses_included_in_valuation = \
 				self.get_company_default("expenses_included_in_valuation")
 				
-			if rounding_diff:
-				import operator
-				cost_center_with_max_value = max(valuation_tax.iteritems(), 
-					key=operator.itemgetter(1))[0]
-				valuation_tax[cost_center_with_max_value] -= flt(rounding_diff)
+			# if rounding_diff:
+			# 	import operator
+			# 	cost_center_with_max_value = max(valuation_tax.iteritems(), 
+			# 		key=operator.itemgetter(1))[0]
+			# 	valuation_tax[cost_center_with_max_value] -= flt(rounding_diff)
 			
 			for cost_center, amount in valuation_tax.items():
 				gl_entries.append(
diff --git a/accounts/general_ledger.py b/accounts/general_ledger.py
index bc0ac1d..575a2b0 100644
--- a/accounts/general_ledger.py
+++ b/accounts/general_ledger.py
@@ -45,7 +45,7 @@
 			same_head.credit = flt(same_head.credit) + flt(entry.credit)
 		else:
 			merged_gl_map.append(entry)
-			
+			 
 	# filter zero debit and credit entries
 	merged_gl_map = filter(lambda x: flt(x.debit)!=0 or flt(x.credit)!=0, merged_gl_map)
 	return merged_gl_map
diff --git a/controllers/buying_controller.py b/controllers/buying_controller.py
index b52d51c..35b9d25 100644
--- a/controllers/buying_controller.py
+++ b/controllers/buying_controller.py
@@ -108,10 +108,11 @@
 			item.import_amount = flt(item.import_rate * item.qty,
 				self.precision("import_amount", item))
 			item.item_tax_amount = 0.0;
-				
+
+			self._set_in_company_currency(item, "import_amount", "amount")
 			self._set_in_company_currency(item, "import_ref_rate", "purchase_ref_rate")
 			self._set_in_company_currency(item, "import_rate", "rate")
-			self._set_in_company_currency(item, "import_amount", "amount")
+			
 			
 	def calculate_net_total(self):
 		self.doc.net_total = self.doc.net_total_import = 0.0
@@ -183,14 +184,12 @@
 			
 			if item.item_code and item.qty:
 				self.round_floats_in(item)
-				
-				purchase_rate = item.rate if self.doc.doctype == "Purchase Invoice" else item.purchase_rate
-				
+								
 				# if no item code, which is sometimes the case in purchase invoice, 
 				# then it is not possible to track valuation against it
-				item.valuation_rate = flt((purchase_rate + 
-					(item.item_tax_amount + item.rm_supp_cost) / item.qty) / item.conversion_factor, 
-					self.precision("valuation_rate", item))
+				qty_in_stock_uom = flt(item.qty * item.conversion_factor)
+				item.valuation_rate = ((item.amount + item.item_tax_amount + item.rm_supp_cost)
+					/ qty_in_stock_uom)
 			else:
 				item.valuation_rate = 0.0
 				
diff --git a/stock/doctype/delivery_note/test_delivery_note.py b/stock/doctype/delivery_note/test_delivery_note.py
index 64ddff8..ae69db6 100644
--- a/stock/doctype/delivery_note/test_delivery_note.py
+++ b/stock/doctype/delivery_note/test_delivery_note.py
@@ -58,11 +58,6 @@
 		self.assertEqual(stock_value, 0)
 		self.assertEqual(stock_value_difference, -375)
 			
-		
-		gl_entries = webnotes.conn.sql("""select account, debit, credit
-			from `tabGL Entry` where voucher_type='Delivery Note' and voucher_no=%s
-			order by account desc""", dn.doc.name, as_dict=1)
-			
 		self.assertFalse(get_gl_entries("Delivery Note", dn.doc.name))
 		
 	def test_delivery_note_gl_entry(self):
@@ -111,8 +106,8 @@
 		gl_entries = get_gl_entries("Delivery Note", dn.doc.name)
 		self.assertTrue(gl_entries)
 		expected_values = {
-			stock_in_hand_account: [0.0, 666.65],
-			"Cost of Goods Sold - _TC": [666.65, 0.0]
+			stock_in_hand_account: [0.0, 666.67],
+			"Cost of Goods Sold - _TC": [666.67, 0.0]
 		}
 		for i, gle in enumerate(gl_entries):
 			self.assertEquals([gle.debit, gle.credit], expected_values.get(gle.account))
diff --git a/stock/report/item_prices/item_prices.py b/stock/report/item_prices/item_prices.py
index 9a25c13..da8b500 100644
--- a/stock/report/item_prices/item_prices.py
+++ b/stock/report/item_prices/item_prices.py
@@ -15,8 +15,8 @@
 	bom_rate = get_item_bom_rate()
 	val_rate_map = get_valuation_rate()
 
-	precision = webnotes.conn.get_value("Global Defaults", None, "float_precision") or 2
-	
+	precision = get_currency_precision or 2
+		
 	data = []
 	for item in sorted(item_map):
 		data.append([item, item_map[item]["item_name"], 
@@ -30,6 +30,14 @@
 		])
 	
 	return columns, data
+	
+def get_currency_precision():
+	company_currency = webnotes.conn.get_value("Company", 
+		webnotes.conn.get_default("company"), "default_currency")
+	currency_format = webnotes.conn.get_value("Currency", company_currency, "number_format")
+	
+	from webnotes.utils import get_number_format_info
+	return get_number_format_info(currency_format)[2]
 
 def get_columns(filters):
 	"""return columns based on filters"""
diff --git a/stock/stock_ledger.py b/stock/stock_ledger.py
index 8702744..980dcd6 100644
--- a/stock/stock_ledger.py
+++ b/stock/stock_ledger.py
@@ -113,7 +113,14 @@
 				(qty_after_transaction * valuation_rate) or 0
 		else:
 			stock_value = sum((flt(batch[0]) * flt(batch[1]) for batch in stock_queue))
-			
+		
+		# rounding as per precision
+		from webnotes.model.meta import get_field_precision
+		meta = webnotes.get_doctype("Stock Ledger Entry")
+		
+		stock_value = flt(stock_value, get_field_precision(meta.get_field("stock_value"), 
+			webnotes._dict({"fields": sle})))
+		
 		stock_value_difference = stock_value - prev_stock_value
 		prev_stock_value = stock_value