diff --git a/erpnext/controllers/buying_controller.py b/erpnext/controllers/buying_controller.py
index 865514b..c4ba9e7 100644
--- a/erpnext/controllers/buying_controller.py
+++ b/erpnext/controllers/buying_controller.py
@@ -223,7 +223,8 @@
 				})
 				if not rm.rate:
 					from erpnext.stock.stock_ledger import get_valuation_rate
-					rm.rate = get_valuation_rate(bom_item.item_code, self.supplier_warehouse)
+					rm.rate = get_valuation_rate(bom_item.item_code, self.supplier_warehouse, 
+						self.doctype, self.name)
 			else:
 				rm.rate = bom_item.rate
 
diff --git a/erpnext/controllers/stock_controller.py b/erpnext/controllers/stock_controller.py
index f0c8dbf..2e6f454 100644
--- a/erpnext/controllers/stock_controller.py
+++ b/erpnext/controllers/stock_controller.py
@@ -87,9 +87,8 @@
 		
 	def validate_negative_stock(self, sle):
 		if sle.qty_after_transaction < 0 and sle.actual_qty < 0:
-			frappe.throw(_("For the Item {0}, valuation rate not found for warehouse {1}. To be able to do accounting entries (for booking expenses), we need valuation rate for item {2}. Please create an incoming stock transaction, on or before {3} {4}, and then try submiting {5}")
-			.format(sle.item_code, sle.warehouse, 
-				sle.item_code, sle.posting_date, sle.posting_time, self.name))
+			frappe.throw(_("Valuation rate not found for the Item {0}, which is required to do accounting entries (for booking expenses). Please create an incoming stock transaction or mention valuation rate in Item record, and then try submiting {1} {2}")
+			.format(sle.item_code, sle.voucher_type, sle.voucher_no))
 
 	def get_voucher_details(self, default_expense_account, default_cost_center, sle_map):
 		if self.doctype == "Stock Reconciliation":
diff --git a/erpnext/stock/doctype/item/item.json b/erpnext/stock/doctype/item/item.json
index d902351..6dfe76e 100644
--- a/erpnext/stock/doctype/item/item.json
+++ b/erpnext/stock/doctype/item/item.json
@@ -26,6 +26,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "", 
    "length": 0, 
    "no_copy": 0, 
@@ -54,6 +55,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Series", 
    "length": 0, 
    "no_copy": 0, 
@@ -82,6 +84,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Item Code", 
    "length": 0, 
    "no_copy": 1, 
@@ -112,6 +115,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 1, 
    "label": "Variant Of", 
    "length": 0, 
    "no_copy": 0, 
@@ -140,6 +144,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 1, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Item Name", 
    "length": 0, 
    "no_copy": 0, 
@@ -168,6 +173,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Barcode", 
    "length": 0, 
    "no_copy": 1, 
@@ -195,6 +201,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 1, 
    "in_list_view": 1, 
+   "in_standard_filter": 1, 
    "label": "Item Group", 
    "length": 0, 
    "no_copy": 0, 
@@ -225,6 +232,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Default Unit of Measure", 
    "length": 0, 
    "no_copy": 0, 
@@ -254,6 +262,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "length": 0, 
    "no_copy": 0, 
    "permlevel": 0, 
@@ -279,6 +288,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Disabled", 
    "length": 0, 
    "no_copy": 0, 
@@ -308,6 +318,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Maintain Stock", 
    "length": 0, 
    "no_copy": 0, 
@@ -338,6 +349,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Opening Stock", 
    "length": 0, 
    "no_copy": 0, 
@@ -355,37 +367,38 @@
   }, 
   {
    "allow_on_submit": 0, 
-   "bold": 1, 
-   "collapsible": 0, 
-   "columns": 0, 
-   "depends_on": "eval:(doc.__islocal && doc.is_stock_item && !doc.has_serial_no && !doc.has_batch_no && doc.opening_stock)", 
-   "fieldname": "valuation_rate", 
-   "fieldtype": "Currency", 
-   "hidden": 0, 
-   "ignore_user_permissions": 0, 
-   "ignore_xss_filter": 0, 
-   "in_filter": 0, 
-   "in_list_view": 0, 
-   "label": "Valuation Rate", 
-   "length": 0, 
-   "no_copy": 0, 
-   "permlevel": 0, 
-   "precision": "", 
-   "print_hide": 0, 
-   "print_hide_if_no_value": 0, 
-   "read_only": 0, 
-   "remember_last_selected_value": 0, 
-   "report_hide": 0, 
-   "reqd": 0, 
-   "search_index": 0, 
-   "set_only_once": 0, 
-   "unique": 0
-  }, 
-  {
-   "allow_on_submit": 0, 
    "bold": 0, 
    "collapsible": 0, 
    "columns": 0, 
+   "depends_on": "eval:(doc.is_stock_item && !doc.has_serial_no && !doc.has_batch_no)", 
+   "fieldname": "valuation_rate", 
+   "fieldtype": "Currency", 
+   "hidden": 0, 
+   "ignore_user_permissions": 0, 
+   "ignore_xss_filter": 0, 
+   "in_filter": 0, 
+   "in_list_view": 0, 
+   "in_standard_filter": 0, 
+   "label": "Valuation Rate", 
+   "length": 0, 
+   "no_copy": 0, 
+   "permlevel": 0, 
+   "precision": "", 
+   "print_hide": 0, 
+   "print_hide_if_no_value": 0, 
+   "read_only": 0, 
+   "remember_last_selected_value": 0, 
+   "report_hide": 0, 
+   "reqd": 0, 
+   "search_index": 0, 
+   "set_only_once": 0, 
+   "unique": 0
+  }, 
+  {
+   "allow_on_submit": 0, 
+   "bold": 1, 
+   "collapsible": 0, 
+   "columns": 0, 
    "fieldname": "standard_rate", 
    "fieldtype": "Currency", 
    "hidden": 0, 
@@ -393,6 +406,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Standard Selling Rate", 
    "length": 0, 
    "no_copy": 0, 
@@ -420,6 +434,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Is Fixed Asset", 
    "length": 0, 
    "no_copy": 0, 
@@ -448,6 +463,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Asset Category", 
    "length": 0, 
    "no_copy": 0, 
@@ -476,6 +492,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Image", 
    "length": 0, 
    "no_copy": 0, 
@@ -504,6 +521,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Description", 
    "length": 0, 
    "no_copy": 0, 
@@ -531,6 +549,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Brand", 
    "length": 0, 
    "no_copy": 0, 
@@ -560,6 +579,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Description", 
    "length": 0, 
    "no_copy": 0, 
@@ -590,6 +610,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Inventory", 
    "length": 0, 
    "no_copy": 0, 
@@ -620,6 +641,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Default Warehouse", 
    "length": 0, 
    "no_copy": 0, 
@@ -651,6 +673,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "End of Life", 
    "length": 0, 
    "no_copy": 0, 
@@ -681,6 +704,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Has Batch No", 
    "length": 0, 
    "no_copy": 0, 
@@ -713,6 +737,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 1, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Has Serial No", 
    "length": 0, 
    "no_copy": 0, 
@@ -744,6 +769,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Serial Number Series", 
    "length": 0, 
    "no_copy": 0, 
@@ -771,6 +797,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Default Material Request Type", 
    "length": 0, 
    "no_copy": 0, 
@@ -800,6 +827,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "length": 0, 
    "no_copy": 0, 
    "oldfieldtype": "Column Break", 
@@ -829,6 +857,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Allow over delivery or receipt upto this percent", 
    "length": 0, 
    "no_copy": 0, 
@@ -858,6 +887,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Valuation Method", 
    "length": 0, 
    "no_copy": 0, 
@@ -886,6 +916,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Warranty Period (in days)", 
    "length": 0, 
    "no_copy": 0, 
@@ -916,6 +947,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Net Weight", 
    "length": 0, 
    "no_copy": 0, 
@@ -943,6 +975,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Weight UOM", 
    "length": 0, 
    "no_copy": 0, 
@@ -972,6 +1005,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Auto re-order", 
    "length": 0, 
    "no_copy": 0, 
@@ -1001,6 +1035,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Reorder level based on Warehouse", 
    "length": 0, 
    "no_copy": 0, 
@@ -1030,6 +1065,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Variants", 
    "length": 0, 
    "no_copy": 0, 
@@ -1060,6 +1096,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Has Variants", 
    "length": 0, 
    "no_copy": 1, 
@@ -1089,6 +1126,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Attributes", 
    "length": 0, 
    "no_copy": 1, 
@@ -1117,6 +1155,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Purchase Details", 
    "length": 0, 
    "no_copy": 0, 
@@ -1146,6 +1185,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Is Purchase Item", 
    "length": 0, 
    "no_copy": 0, 
@@ -1176,6 +1216,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Minimum Order Qty", 
    "length": 0, 
    "no_copy": 0, 
@@ -1204,6 +1245,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Safety Stock", 
    "length": 0, 
    "no_copy": 0, 
@@ -1233,6 +1275,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Lead Time in days", 
    "length": 0, 
    "no_copy": 0, 
@@ -1263,6 +1306,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Default Buying Cost Center", 
    "length": 0, 
    "no_copy": 0, 
@@ -1294,6 +1338,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Default Expense Account", 
    "length": 0, 
    "no_copy": 0, 
@@ -1324,6 +1369,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Unit of Measure Conversion", 
    "length": 0, 
    "no_copy": 0, 
@@ -1353,6 +1399,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "UOMs", 
    "length": 0, 
    "no_copy": 1, 
@@ -1383,6 +1430,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Last Purchase Rate", 
    "length": 0, 
    "no_copy": 1, 
@@ -1412,6 +1460,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Supplier Details", 
    "length": 0, 
    "no_copy": 0, 
@@ -1440,6 +1489,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Default Supplier", 
    "length": 0, 
    "no_copy": 0, 
@@ -1467,6 +1517,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Delivered by Supplier (Drop Ship)", 
    "length": 0, 
    "no_copy": 0, 
@@ -1495,6 +1546,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Manufacturer", 
    "length": 0, 
    "no_copy": 0, 
@@ -1523,6 +1575,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Manufacturer Part Number", 
    "length": 0, 
    "no_copy": 0, 
@@ -1550,6 +1603,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Item Code for Suppliers", 
    "length": 0, 
    "no_copy": 0, 
@@ -1579,6 +1633,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Supplier Items", 
    "length": 0, 
    "no_copy": 0, 
@@ -1606,6 +1661,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Sales Details", 
    "length": 0, 
    "no_copy": 0, 
@@ -1635,6 +1691,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Is Sales Item", 
    "length": 0, 
    "no_copy": 0, 
@@ -1664,6 +1721,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Publish in Hub", 
    "length": 0, 
    "no_copy": 0, 
@@ -1692,6 +1750,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Synced With Hub", 
    "length": 0, 
    "no_copy": 0, 
@@ -1720,6 +1779,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Default Income Account", 
    "length": 0, 
    "no_copy": 0, 
@@ -1748,6 +1808,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Default Selling Cost Center", 
    "length": 0, 
    "no_copy": 0, 
@@ -1776,6 +1837,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Customer Item Codes", 
    "length": 0, 
    "no_copy": 0, 
@@ -1806,6 +1868,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Customer Items", 
    "length": 0, 
    "no_copy": 0, 
@@ -1834,6 +1897,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Max Discount (%)", 
    "length": 0, 
    "no_copy": 0, 
@@ -1862,6 +1926,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Item Tax", 
    "length": 0, 
    "no_copy": 0, 
@@ -1891,6 +1956,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Taxes", 
    "length": 0, 
    "no_copy": 0, 
@@ -1920,6 +1986,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Inspection Criteria", 
    "length": 0, 
    "no_copy": 0, 
@@ -1949,6 +2016,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Inspection Required before Purchase", 
    "length": 0, 
    "no_copy": 0, 
@@ -1978,6 +2046,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Inspection Required before Delivery", 
    "length": 0, 
    "no_copy": 0, 
@@ -2007,6 +2076,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Quality Parameters", 
    "length": 0, 
    "no_copy": 0, 
@@ -2037,6 +2107,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Manufacturing", 
    "length": 0, 
    "no_copy": 0, 
@@ -2066,6 +2137,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Default BOM", 
    "length": 0, 
    "no_copy": 1, 
@@ -2097,6 +2169,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Supply Raw Materials for Purchase", 
    "length": 0, 
    "no_copy": 0, 
@@ -2126,6 +2199,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "length": 0, 
    "no_copy": 0, 
    "permlevel": 0, 
@@ -2152,6 +2226,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 1, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Customer Code", 
    "length": 0, 
    "no_copy": 1, 
@@ -2178,6 +2253,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Website", 
    "length": 0, 
    "no_copy": 0, 
@@ -2206,6 +2282,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Show in Website", 
    "length": 0, 
    "no_copy": 0, 
@@ -2233,6 +2310,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Show in Website (Variant)", 
    "length": 0, 
    "no_copy": 0, 
@@ -2261,6 +2339,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Route", 
    "length": 0, 
    "no_copy": 0, 
@@ -2290,6 +2369,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Weightage", 
    "length": 0, 
    "no_copy": 0, 
@@ -2318,6 +2398,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Slideshow", 
    "length": 0, 
    "no_copy": 0, 
@@ -2347,6 +2428,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Image", 
    "length": 0, 
    "no_copy": 0, 
@@ -2374,6 +2456,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Thumbnail", 
    "length": 0, 
    "no_copy": 0, 
@@ -2401,6 +2484,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "length": 0, 
    "no_copy": 0, 
    "permlevel": 0, 
@@ -2428,6 +2512,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Website Warehouse", 
    "length": 0, 
    "no_copy": 0, 
@@ -2457,6 +2542,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Website Item Groups", 
    "length": 0, 
    "no_copy": 0, 
@@ -2486,6 +2572,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Website Specifications", 
    "length": 0, 
    "no_copy": 0, 
@@ -2513,6 +2600,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Copy From Item Group", 
    "length": 0, 
    "no_copy": 0, 
@@ -2540,6 +2628,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Website Specifications", 
    "length": 0, 
    "no_copy": 0, 
@@ -2568,6 +2657,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Website Description", 
    "length": 0, 
    "no_copy": 0, 
@@ -2594,6 +2684,7 @@
    "ignore_xss_filter": 0, 
    "in_filter": 0, 
    "in_list_view": 0, 
+   "in_standard_filter": 0, 
    "label": "Total Projected Qty", 
    "length": 0, 
    "no_copy": 0, 
@@ -2622,7 +2713,7 @@
  "issingle": 0, 
  "istable": 0, 
  "max_attachments": 1, 
- "modified": "2017-01-10 12:02:51.807965", 
+ "modified": "2017-01-18 17:43:20.262925", 
  "modified_by": "Administrator", 
  "module": "Stock", 
  "name": "Item", 
diff --git a/erpnext/stock/doctype/item/test_records.json b/erpnext/stock/doctype/item/test_records.json
index c05c5f3..aad8ed0 100644
--- a/erpnext/stock/doctype/item/test_records.json
+++ b/erpnext/stock/doctype/item/test_records.json
@@ -15,6 +15,7 @@
   "item_group": "_Test Item Group",
   "item_name": "_Test Item",
   "apply_warehouse_wise_reorder_level": 1,
+  "valuation_rate": 100,
   "reorder_levels": [
    {
     "material_request_type": "Purchase",
@@ -61,6 +62,7 @@
   "item_code": "_Test Item Home Desktop 100",
   "item_group": "_Test Item Group Desktops",
   "item_name": "_Test Item Home Desktop 100",
+  "valuation_rate": 100,
   "taxes": [
    {
     "doctype": "Item Tax",
diff --git a/erpnext/stock/stock_ledger.py b/erpnext/stock/stock_ledger.py
index a980ed0..a4cc512 100644
--- a/erpnext/stock/stock_ledger.py
+++ b/erpnext/stock/stock_ledger.py
@@ -258,6 +258,10 @@
 
 			if not self.valuation_rate and actual_qty > 0:
 				self.valuation_rate = sle.incoming_rate
+		
+		if not self.valuation_rate:
+			self.valuation_rate = get_valuation_rate(sle.item_code, sle.warehouse, 
+				sle.voucher_type, sle.voucher_no, self.allow_zero_rate)
 
 	def get_fifo_values(self, sle):
 		incoming_rate = flt(sle.incoming_rate)
@@ -281,10 +285,9 @@
 			qty_to_pop = abs(actual_qty)
 			while qty_to_pop:
 				if not self.stock_queue:
-					if self.qty_after_transaction > 0:
-						_rate = get_valuation_rate(sle.item_code, sle.warehouse, self.allow_zero_rate)
-					else:
-						_rate = 0
+					# Get valuation rate from last sle if exists or from valuation rate field in item master
+					_rate = get_valuation_rate(sle.item_code, sle.warehouse, 
+				sle.voucher_type, sle.voucher_no, self.allow_zero_rate)
 					self.stock_queue.append([0, _rate])
 
 				index = None
@@ -404,7 +407,8 @@
 			"order": order
 		}, previous_sle, as_dict=1, debug=debug)
 
-def get_valuation_rate(item_code, warehouse, allow_zero_rate=False):
+def get_valuation_rate(item_code, warehouse, voucher_type, voucher_no, allow_zero_rate=False):
+	# Get valuation rate from last sle for the same item and warehouse
 	last_valuation_rate = frappe.db.sql("""select valuation_rate
 		from `tabStock Ledger Entry`
 		where item_code = %s and warehouse = %s
@@ -412,6 +416,7 @@
 		order by posting_date desc, posting_time desc, name desc limit 1""", (item_code, warehouse))
 
 	if not last_valuation_rate:
+		# Get valuation rate from last sle for the item against any warehouse
 		last_valuation_rate = frappe.db.sql("""select valuation_rate
 			from `tabStock Ledger Entry`
 			where item_code = %s and valuation_rate > 0
@@ -420,9 +425,14 @@
 	valuation_rate = flt(last_valuation_rate[0][0]) if last_valuation_rate else 0
 
 	if not valuation_rate:
-		valuation_rate = frappe.db.get_value("Item Price", {"item_code": item_code, "buying": 1}, "price_list_rate")
+		# If negative stock allowed, and item delivered without any incoming entry,
+		# syste does not found any SLE, then take valuation rate from Item
+		valuation_rate = frappe.db.get_value("Item", item_code, "valuation_rate")
 
-	if not allow_zero_rate and not valuation_rate and cint(frappe.db.get_value("Accounts Settings", None, "auto_accounting_for_stock")):
-		frappe.throw(_("Purchase rate for item: {0} not found, which is required to book accounting entry (expense). Please mention item price against a buying price list.").format(item_code))
+	if not allow_zero_rate and not valuation_rate \
+			and cint(frappe.db.get_value("Accounts Settings", None, "auto_accounting_for_stock")):
+			
+		frappe.throw(_("Valuation rate not found for the Item {0}, which is required to do accounting entries (for booking expenses). Please create an incoming stock transaction or mention valuation rate in Item record, and then try submiting {1} {2}")
+		.format(item_code, voucher_type, voucher_no))
 
 	return valuation_rate