diff --git a/erpnext/setup/doctype/company/company.py b/erpnext/setup/doctype/company/company.py
index 956deef..8bcaa28 100644
--- a/erpnext/setup/doctype/company/company.py
+++ b/erpnext/setup/doctype/company/company.py
@@ -16,6 +16,7 @@
 
 from past.builtins import cmp
 import functools
+from erpnext.accounts.doctype.account.account import get_account_currency
 
 class Company(NestedSet):
 	nsm_parent_field = 'parent_company'
@@ -73,18 +74,22 @@
 
 	def validate_default_accounts(self):
 		accounts = [
-			"default_bank_account", "default_cash_account",
-			"default_receivable_account", "default_payable_account",
-			"default_expense_account", "default_income_account",
-			"stock_received_but_not_billed", "stock_adjustment_account",
-			"expenses_included_in_valuation", "default_payroll_payable_account"
+			["Default Bank Account", "default_bank_account"], ["Default Cash  Account", "default_cash_account"],
+			["Default Receivable Account", "default_receivable_account"], ["Default Payable Account", "default_payable_account"],
+			["Default Expense Account", "default_expense_account"], ["Default Income Account", "default_income_account"],
+			["Stock Received But Not Billed Account", "stock_received_but_not_billed"], ["Stock Adjustment Account", "stock_adjustment_account"],
+			["Expense Included In Valuation Account", "expenses_included_in_valuation"], ["Default Payroll Payable Account", "default_payroll_payable_account"]
 		]
 
-		for field in accounts:
-			if self.get(field):
-				for_company = frappe.db.get_value("Account", self.get(field), "company")
+		for account in accounts:
+			if self.get(account[1]):
+				for_company = frappe.db.get_value("Account", self.get(account[1]), "company")
 				if for_company != self.name:
-					frappe.throw(_("Account {0} does not belong to company: {1}").format(self.get(field), self.name))
+					frappe.throw(_("Account {0} does not belong to company: {1}").format(self.get(account[1]), self.name))
+
+				if get_account_currency(self.get(account[1])) != self.default_currency:
+					frappe.throw(_("""{0} currency must be same as company's default currency.
+						Please select another account""").format(frappe.bold(account[0])))
 
 	def validate_currency(self):
 		if self.is_new():