diff --git a/erpnext/__init__.py b/erpnext/__init__.py
index 5324cde537..81f50ef03a 100644
--- a/erpnext/__init__.py
+++ b/erpnext/__init__.py
@@ -1,7 +1,9 @@
-from erpnext.__version__ import __version__
-
+# -*- coding: utf-8 -*-
+from __future__ import unicode_literals
 import frappe
 
+__version__ = '6.27.22'
+
 def get_default_company(user=None):
 	'''Get default company for user'''
 	from frappe.defaults import get_user_default_as_list
@@ -21,4 +23,4 @@ def get_default_currency():
 	'''Returns the currency of the default company'''
 	company = get_default_company()
 	if company:
-		return frappe.db.get_value('Company', company, 'default_currency')
\ No newline at end of file
+		return frappe.db.get_value('Company', company, 'default_currency')
diff --git a/erpnext/__version__.py b/erpnext/__version__.py
deleted file mode 100644
index c27ae20f2a..0000000000
--- a/erpnext/__version__.py
+++ /dev/null
@@ -1,2 +0,0 @@
-from __future__ import unicode_literals
-__version__ = '6.27.22'
diff --git a/erpnext/hooks.py b/erpnext/hooks.py
index 1b130a635e..2bb2ca6065 100644
--- a/erpnext/hooks.py
+++ b/erpnext/hooks.py
@@ -1,5 +1,6 @@
 from __future__ import unicode_literals
 from frappe import _
+from . import __version__ as app_version
 
 app_name = "erpnext"
 app_title = "ERPNext"
@@ -7,7 +8,6 @@ app_publisher = "Frappe Technologies Pvt. Ltd."
 app_description = """ERP made simple"""
 app_icon = "icon-th"
 app_color = "#e74c3c"
-app_version = "6.27.22"
 app_email = "info@erpnext.com"
 app_license = "GNU General Public License (v3)"
 source_link = "https://github.com/frappe/erpnext"
diff --git a/setup.py b/setup.py
index d592c5f3cd..5dd87abb5b 100644
--- a/setup.py
+++ b/setup.py
@@ -1,7 +1,15 @@
+# -*- coding: utf-8 -*-
 from setuptools import setup, find_packages
 from pip.req import parse_requirements
+import re, ast
+
+# get version from __version__ variable in erpnext/__init__.py
+_version_re = re.compile(r'__version__\s+=\s+(.*)')
+
+with open('erpnext/__init__.py', 'rb') as f:
+    version = str(ast.literal_eval(_version_re.search(
+        f.read().decode('utf-8')).group(1)))
 
-version = "6.27.22"
 requirements = parse_requirements("requirements.txt", session="")
 
 setup(