diff --git a/erpnext/buying/doctype/purchase_order/purchase_order.py b/erpnext/buying/doctype/purchase_order/purchase_order.py
index 5a7573b..846c5b4 100644
--- a/erpnext/buying/doctype/purchase_order/purchase_order.py
+++ b/erpnext/buying/doctype/purchase_order/purchase_order.py
@@ -14,6 +14,7 @@
 from erpnext.buying.utils import validate_for_items, check_for_closed_status
 from erpnext.stock.utils import get_bin
 from six import string_types
+from erpnext.stock.doctype.item.item import get_item_defaults
 
 form_grid_templates = {
 	"items": "templates/form_grid/item_grid.html"
@@ -374,7 +375,7 @@
 		target.base_amount = target.amount * flt(source_parent.conversion_rate)
 		target.qty = target.amount / flt(obj.rate) if (flt(obj.rate) and flt(obj.billed_amt)) else flt(obj.qty)
 
-		item = frappe.db.get_value("Item", target.item_code, ["item_group", "buying_cost_center"], as_dict=1)
+		item = get_item_defaults(target.item_code, target.company)
 		target.cost_center = frappe.db.get_value("Project", obj.project, "cost_center") \
 			or item.buying_cost_center \
 			or frappe.db.get_value("Item Group", item.item_group, "default_cost_center")
diff --git a/erpnext/selling/doctype/sales_order/sales_order.py b/erpnext/selling/doctype/sales_order/sales_order.py
index 7e6c3dc..5116725 100755
--- a/erpnext/selling/doctype/sales_order/sales_order.py
+++ b/erpnext/selling/doctype/sales_order/sales_order.py
@@ -15,6 +15,8 @@
 from erpnext.controllers.selling_controller import SellingController
 from frappe.desk.doctype.auto_repeat.auto_repeat import get_next_schedule_date
 from erpnext.selling.doctype.customer.customer import check_credit_limit
+from erpnext.stock.doctype.item.item import get_item_defaults
+
 
 form_grid_templates = {
 	"items": "templates/form_grid/item_grid.html"
@@ -493,7 +495,7 @@
 		target.amount = (flt(source.qty) - flt(source.delivered_qty)) * flt(source.rate)
 		target.qty = flt(source.qty) - flt(source.delivered_qty)
 
-		item = frappe.db.get_value("Item", target.item_code, ["item_group", "selling_cost_center"], as_dict=1)
+		item = get_item_defaults(target.item_code, target.company)
 
 		if item:
 			target.cost_center = frappe.db.get_value("Project", source_parent.project, "cost_center") \
@@ -557,7 +559,7 @@
 		if source_parent.project:
 			target.cost_center = frappe.db.get_value("Project", source_parent.project, "cost_center")
 		if not target.cost_center and target.item_code:
-			item = frappe.db.get_value("Item", target.item_code, ["item_group", "selling_cost_center"], as_dict=1)
+			item = get_item_defaults(target.item_code, target.company)
 			target.cost_center = item.selling_cost_center \
 				or frappe.db.get_value("Item Group", item.item_group, "default_cost_center")
 
diff --git a/erpnext/setup/doctype/company/company.py b/erpnext/setup/doctype/company/company.py
index 2f177ee..9e9ac55 100644
--- a/erpnext/setup/doctype/company/company.py
+++ b/erpnext/setup/doctype/company/company.py
@@ -291,9 +291,6 @@
 			Trash accounts and cost centers for this company if no gl entry exists
 		"""
 		self.update_nsm_model()
-		accounts = frappe.db.sql_list("select name from tabAccount where company=%s", self.name)
-		cost_centers = frappe.db.sql_list("select name from `tabCost Center` where company=%s", self.name)
-		warehouses = frappe.db.sql_list("select name from tabWarehouse where company=%s", self.name)
 
 		rec = frappe.db.sql("SELECT name from `tabGL Entry` where company = %s", self.name)
 		if not rec:
@@ -308,33 +305,19 @@
 			frappe.db.sql("""delete from `tabWarehouse` where company=%s""", self.name)
 
 		frappe.defaults.clear_default("company", value=self.name)
-		frappe.db.sql("delete from `tabMode of Payment Account` where company=%s", self.name)
+		for doctype in ["Mode of Payment Account", "Item Default"]:
+			frappe.db.sql("delete from `tab{0}` where company = %s".format(doctype), self.name)
 
 		# clear default accounts, warehouses from item
+		warehouses = frappe.db.sql_list("select name from tabWarehouse where company=%s", self.name)
 		if warehouses:
-			for f in ["default_warehouse", "website_warehouse"]:
-				frappe.db.sql("""update `tabItem Default` set %s=NULL where company=%s and %s in (%s)"""
-					% (f, self.name, f, ', '.join(['%s']*len(warehouses))), tuple(warehouses))
-
 			frappe.db.sql("""delete from `tabItem Reorder` where warehouse in (%s)"""
 				% ', '.join(['%s']*len(warehouses)), tuple(warehouses))
 
-		if accounts:
-			for f in ["income_account", "expense_account"]:
-				frappe.db.sql("""update tabItem set %s=NULL where %s in (%s)"""
-					% (f, f, ', '.join(['%s']*len(accounts))), tuple(accounts))
-
-		if cost_centers:
-			for f in ["selling_cost_center", "buying_cost_center"]:
-				frappe.db.sql("""update tabItem set %s=NULL where %s in (%s)"""
-					% (f, f, ', '.join(['%s']*len(cost_centers))), tuple(cost_centers))
-
 		# reset default company
 		frappe.db.sql("""update `tabSingles` set value=""
 			where doctype='Global Defaults' and field='default_company'
 			and value=%s""", self.name)
-		# delete mode of payment account
-		frappe.db.sql("delete from `tabMode of Payment Account` where company=%s", self.name)
 
 		# delete BOMs
 		boms = frappe.db.sql_list("select name from tabBOM where company=%s", self.name)
diff --git a/erpnext/stock/doctype/item/item.py b/erpnext/stock/doctype/item/item.py
index 7dc9a89..9487963 100644
--- a/erpnext/stock/doctype/item/item.py
+++ b/erpnext/stock/doctype/item/item.py
@@ -883,13 +883,13 @@
 		frappe.throw(
 			_("Default Unit of Measure for Item {0} cannot be changed directly because you have already made some transaction(s) with another UOM. You will need to create a new Item to use a different Default UOM.").format(item))
 
-def get_item_details(item, company):
+def get_item_defaults(item, company):
 	return frappe.db.sql('''
 		select
-			i.item_name, i.description, i.stock_uom, i.name, i.is_stock_item, i.item_code
-			id.expense_account, id.buying_cost_center, id.warehouse
+			i.item_name, i.description, i.stock_uom, i.name, i.is_stock_item, i.item_code, i.item_group,
+			id.expense_account, id.buying_cost_center, id.default_warehouse, id.selling_cost_center
 		from
 			`tabItem` i, `tabItem Default` id
 		where
 			i.name = id.parent and i.name = %s and id.company = %s
-	''', (item, company), as_dict=1)
\ No newline at end of file
+	''', (item, company), as_dict=1)[0]
\ No newline at end of file
diff --git a/erpnext/stock/doctype/item/test_item.py b/erpnext/stock/doctype/item/test_item.py
index ee2ca98..1c915ee 100644
--- a/erpnext/stock/doctype/item/test_item.py
+++ b/erpnext/stock/doctype/item/test_item.py
@@ -36,7 +36,7 @@
 
 
 	if item.is_stock_item:
-		for item_default in [doc for doc in item.item_defaults if not doc.default_warehouse]
+		for item_default in [doc for doc in item.item_defaults if not doc.default_warehouse]:
 			item_default.default_warehouse = "_Test Warehouse - _TC"
 
 	item.insert()
@@ -205,7 +205,7 @@
 					"default_warehouse": "_Test Warehouse - _TC",
 					"company": "_Test Company"
 				}
-			]
+			],
 			"has_variants": 1
 		})
 
diff --git a/erpnext/stock/doctype/stock_entry/stock_entry.py b/erpnext/stock/doctype/stock_entry/stock_entry.py
index 49a278c..5a6384a 100644
--- a/erpnext/stock/doctype/stock_entry/stock_entry.py
+++ b/erpnext/stock/doctype/stock_entry/stock_entry.py
@@ -10,7 +10,7 @@
 from erpnext.stock.stock_ledger import get_previous_sle, NegativeStockError, get_valuation_rate
 from erpnext.stock.get_item_details import get_bin_details, get_default_cost_center, get_conversion_factor
 from erpnext.stock.doctype.batch.batch import get_batch_no, set_batch_nos, get_batch_qty
-from erpnext.stock.doctype.item.item import get_item_details
+from erpnext.stock.doctype.item.item import get_item_defaults
 from erpnext.manufacturing.doctype.bom.bom import validate_bom_no
 from erpnext.stock.utils import get_bin
 import json
@@ -563,14 +563,14 @@
 					pro_doc.run_method("update_planned_qty")
 
 	def get_item_details(self, args=None, for_update=False):
-		item = frappe.db.sql("""select stock_uom, description, image, item_name,
-				expense_account, buying_cost_center, item_group, has_serial_no,
-				has_batch_no, sample_quantity
-			from `tabItem`
-			where name = %s
-				and disabled=0
-				and (end_of_life is null or end_of_life='0000-00-00' or end_of_life > %s)""",
-			(args.get('item_code'), nowdate()), as_dict = 1)
+		item = frappe.db.sql("""select i.stock_uom, i.description, i.image, i.item_name, i.item_group,
+				i.has_batch_no, i.sample_quantity, i.has_serial_no,
+				id.expense_account, id.buying_cost_center
+			from `tabItem`, `tabItem Default` id
+			where i.name=%s and i.name=id.parent and id.company=%s
+				and i.disabled=0
+				and (i.end_of_life is null or i.end_of_life='0000-00-00' or i.end_of_life > %s)""",
+			(args.get('item_code'), self.company, nowdate()), as_dict = 1)
 		if not item:
 			frappe.throw(_("Item {0} is not active or end of life has been reached").format(args.get("item_code")))
 
@@ -717,7 +717,7 @@
 			item_code = frappe.db.get_value("BOM", self.bom_no, "item")
 			to_warehouse = self.to_warehouse
 
-		item = get_item_details(item_code, self.company)
+		item = get_item_defaults(item_code, self.company)
 
 		if not self.work_order and not to_warehouse:
 			# in case of BOM
@@ -783,7 +783,7 @@
 		for item in wo_items:
 			qty = item.required_qty
 
-			item_account_details = get_item_details(item.item_code, self.company)
+			item_account_details = get_item_defaults(item.item_code, self.company)
 			# Take into account consumption if there are any.
 			if self.purpose == 'Manufacture':
 				req_qty_each = flt(item.required_qty / wo.qty)
diff --git a/erpnext/stock/get_item_details.py b/erpnext/stock/get_item_details.py
index 0351364..bbbe860 100644
--- a/erpnext/stock/get_item_details.py
+++ b/erpnext/stock/get_item_details.py
@@ -11,7 +11,7 @@
 from frappe.model.meta import get_field_precision
 from erpnext.stock.doctype.batch.batch import get_batch_no
 from erpnext import get_company_currency
-from erpnext.stock.doctype.item.item import get_item_details
+from erpnext.stock.doctype.item.item import get_item_defaults
 
 
 from six import string_types, iteritems
@@ -206,9 +206,8 @@
 	user_default_warehouse = user_default_warehouse_list[0] \
 		if len(user_default_warehouse_list) == 1 else ""
 	
-	item_default_warehouse = [default.default_warehouse for default in item.item_defaults if default.company == args.company]
-	item_default_warehouse = item_default_warehouse[0] if item_default_warehouse else None
-	warehouse = user_default_warehouse or item_default_warehouse or args.warehouse
+	item_defaults = get_item_defaults(item.name, args.company)
+	warehouse = user_default_warehouse or item_defaults.default_warehouse or args.warehouse
 
 	material_request_type = ''
 	if args.get('doctype') == "Material Request":
@@ -231,9 +230,9 @@
 		"description": cstr(item.description).strip(),
 		"image": cstr(item.image).strip(),
 		"warehouse": warehouse,
-		"income_account": get_default_income_account(args, item),
-		"expense_account": get_default_expense_account(args, item),
-		"cost_center": get_default_cost_center(args, item),
+		"income_account": get_default_income_account(args, item_defaults),
+		"expense_account": get_default_expense_account(args, item_defaults),
+		"cost_center": get_default_cost_center(args, item_defaults),
 		'has_serial_no': item.has_serial_no,
 		'has_batch_no': item.has_batch_no,
 		"batch_no": None,
@@ -682,7 +681,7 @@
 			return bom
 
 def get_valuation_rate(item_code, company, warehouse=None):
-	item = get_item_details(item_code, company)
+	item = get_item_defaults(item_code, company)
 	# item = frappe.get_doc("Item", item_code)
 	if item.is_stock_item:
 		if not warehouse: