diff --git a/erpnext/public/js/controllers/transaction.js b/erpnext/public/js/controllers/transaction.js
index eec40d085e..cb8f4e6835 100644
--- a/erpnext/public/js/controllers/transaction.js
+++ b/erpnext/public/js/controllers/transaction.js
@@ -603,7 +603,7 @@ erpnext.TransactionController = erpnext.taxes_and_totals.extend({
 			callback: function(r) {
 				if (!r.exc && r.message) {
 					me._set_values_for_item_list(r.message);
-					if(item) me.gross_profit(item);
+					if(item) me.set_gross_profit(item);
 					if(calculate_taxes_and_totals) me.calculate_taxes_and_totals();
 				}
 			}
@@ -879,8 +879,10 @@ erpnext.TransactionController = erpnext.taxes_and_totals.extend({
 		}
 	},
 	
-	gross_profit: function(item) {
-		item.gross_profit = flt((((item.rate - item.valuation_rate) * item.qty) * (this.frm.doc.conversion_rate || 1)), precision("amount", item));
+	set_gross_profit: function(item) {
+		if (this.frm.doc.doctype == "Sales Order") {
+			item.gross_profit = flt((((item.rate - item.valuation_rate) * item.qty) * (this.frm.doc.conversion_rate || 1)), precision("amount", item));
+		}
 	}
 });
 
@@ -894,7 +896,7 @@ frappe.ui.form.on(cur_frm.doctype + " Item", "rate", function(frm, cdt, cdn) {
 		item.discount_percentage = 0.0;
 	}
 	
-	cur_frm.cscript.gross_profit(item);
+	cur_frm.cscript.set_gross_profit(item);
 	cur_frm.cscript.calculate_taxes_and_totals();
 })
 
diff --git a/erpnext/selling/doctype/sales_order_item/sales_order_item.json b/erpnext/selling/doctype/sales_order_item/sales_order_item.json
index 6a6f4545fd..fb65ee8f1a 100644
--- a/erpnext/selling/doctype/sales_order_item/sales_order_item.json
+++ b/erpnext/selling/doctype/sales_order_item/sales_order_item.json
@@ -1232,6 +1232,7 @@
    "label": "Valuation Rate", 
    "length": 0, 
    "no_copy": 1, 
+   "options": "Company:company:default_currency", 
    "permlevel": 0, 
    "precision": "", 
    "print_hide": 1, 
@@ -1257,6 +1258,7 @@
    "label": "Gross Profit", 
    "length": 0, 
    "no_copy": 1, 
+   "options": "Company:company:default_currency", 
    "permlevel": 0, 
    "precision": "", 
    "print_hide": 1, 
@@ -1390,7 +1392,7 @@
  "istable": 1, 
  "max_attachments": 0, 
  "menu_index": 0, 
- "modified": "2016-02-25 17:52:22.402065", 
+ "modified": "2016-02-26 11:08:24.708912", 
  "modified_by": "Administrator", 
  "module": "Selling", 
  "name": "Sales Order Item", 
diff --git a/erpnext/selling/sales_common.js b/erpnext/selling/sales_common.js
index a29111f42a..ef9cadc0be 100644
--- a/erpnext/selling/sales_common.js
+++ b/erpnext/selling/sales_common.js
@@ -125,7 +125,7 @@ erpnext.selling.SellingController = erpnext.TransactionController.extend({
 		item.rate = flt(item.price_list_rate * (1 - item.discount_percentage / 100.0),
 			precision("rate", item));
 		
-		this.gross_profit(item);
+		this.set_gross_profit(item);
 		this.calculate_taxes_and_totals();
 	},
 
diff --git a/erpnext/stock/get_item_details.py b/erpnext/stock/get_item_details.py
index e036a5d04f..9b61c00e83 100644
--- a/erpnext/stock/get_item_details.py
+++ b/erpnext/stock/get_item_details.py
@@ -68,7 +68,7 @@ def get_item_details(args):
 	if args.get("is_subcontracted") == "Yes":
 		out.bom = get_default_bom(args.item_code)
 		
-	get_goss_profit(out)
+	get_gross_profit(out)
 
 	return out
 
@@ -470,8 +470,10 @@ def get_default_bom(item_code=None):
 			frappe.throw(_("No default BOM exists for Item {0}").format(item_code))
 			
 			
-def get_goss_profit(out):
+def get_gross_profit(out):
+	if isinstance(out.valuation_rate, dict): return out
+	
 	out.update({
-		"gross_profit": ((out.price_list_rate - out.valuation_rate) * out.qty) * (out.conversio_rate or 1)
+		"gross_profit": ((out.base_rate - out.valuation_rate) * out.qty)
 	})
 	return out