diff --git a/erpnext/accounts/doctype/account/chart_of_accounts/verified/standard_chart_of_accounts.py b/erpnext/accounts/doctype/account/chart_of_accounts/verified/standard_chart_of_accounts.py
index 5452040..e0d8149 100644
--- a/erpnext/accounts/doctype/account/chart_of_accounts/verified/standard_chart_of_accounts.py
+++ b/erpnext/accounts/doctype/account/chart_of_accounts/verified/standard_chart_of_accounts.py
@@ -24,7 +24,8 @@
 	                "account_type": "Cash"
 	            },
 	            _("Loans and Advances (Assets)"): {
-	            	"is_group": 1
+                    	_("Employee Advances"): {
+                    	},
 	            },
 	            _("Securities and Deposits"): {
 	                _("Earnest Money"): {}
diff --git a/erpnext/accounts/doctype/account/chart_of_accounts/verified/standard_chart_of_accounts_with_account_number.py b/erpnext/accounts/doctype/account/chart_of_accounts/verified/standard_chart_of_accounts_with_account_number.py
index bad8453..df7853f 100644
--- a/erpnext/accounts/doctype/account/chart_of_accounts/verified/standard_chart_of_accounts_with_account_number.py
+++ b/erpnext/accounts/doctype/account/chart_of_accounts/verified/standard_chart_of_accounts_with_account_number.py
@@ -29,7 +29,9 @@
                     "account_number": "1100"
                 },
                 _("Loans and Advances (Assets)"): {
-                    "is_group": 1,
+                    _("Employee Advances"): {
+                        "account_number": "1610"
+                    },
                     "account_number": "1600"
                 },
                 _("Securities and Deposits"): {
diff --git a/erpnext/setup/doctype/company/company.py b/erpnext/setup/doctype/company/company.py
index fdea1b1..776dad5 100644
--- a/erpnext/setup/doctype/company/company.py
+++ b/erpnext/setup/doctype/company/company.py
@@ -186,6 +186,36 @@
 		if not self.default_payable_account:
 			self.db_set("default_payable_account", self.default_payable_account)
 
+		if not self.default_payroll_payable_account:
+			payroll_payable_account = frappe.db.get_value("Account",
+				{"account_name": _("Payroll Payable"), "company": self.name, "is_group": 0})
+
+			self.db_set("default_payroll_payable_account", payroll_payable_account)
+
+		if not self.default_employee_advance_account:
+			employe_advance_account = frappe.db.get_value("Account",
+				{"account_name": _("Employee Advances"), "company": self.name, "is_group": 0})
+
+			self.db_set("default_employee_advance_account", employe_advance_account)
+
+		if not self.write_off_account:
+			write_off_acct = frappe.db.get_value("Account",
+				{"account_name": _("Write Off"), "company": self.name, "is_group": 0})
+
+			self.db_set("write_off_account", write_off_acct)
+
+		if not self.exchange_gain_loss_account:
+			exchange_gain_loss_acct = frappe.db.get_value("Account",
+				{"account_name": _("Exchange Gain/Loss"), "company": self.name, "is_group": 0})
+
+			self.db_set("exchange_gain_loss_account", exchange_gain_loss_acct)
+
+		if not self.disposal_account:
+			disposal_acct = frappe.db.get_value("Account",
+				{"account_name": _("Gain/Loss on Asset Disposal"), "company": self.name, "is_group": 0})
+
+			self.db_set("disposal_account", disposal_acct)
+
 	def _set_default_account(self, fieldname, account_type):
 		if self.get(fieldname):
 			return