diff --git a/patches/october_2012/update_account_property.py b/patches/october_2012/update_account_property.py
new file mode 100644
index 0000000..d30f0cc
--- /dev/null
+++ b/patches/october_2012/update_account_property.py
@@ -0,0 +1,14 @@
+def execute():
+	import webnotes
+	from webnotes.utils.nestedset import rebuild_tree
+	rebuild_tree('Account', 'parent_account')
+	
+	roots = webnotes.conn.sql("""
+		select lft, rgt, debit_or_credit, is_pl_account, company from `tabAccount`
+		where ifnull(parent_account, '') = ''
+	""", as_dict=1)
+
+	for acc in roots:
+		webnotes.conn.sql("""update tabAccount set debit_or_credit = %(debit_or_credit)s, 
+			is_pl_account = %(is_pl_account)s, company = %(company)s
+			where lft > %(lft)s and rgt < %(rgt)s""", acc, debug=1)
\ No newline at end of file
diff --git a/patches/patch_list.py b/patches/patch_list.py
index f750ac0..fc2582a 100644
--- a/patches/patch_list.py
+++ b/patches/patch_list.py
@@ -623,4 +623,8 @@
 		'patch_module': 'patches.october_2012',
 		'patch_file': 'remove_old_customer_contact_address',
 	},
+	{
+		'patch_module': 'patches.october_2012',
+		'patch_file': 'update_account_property',
+	},
 ]