diff --git a/erpnext/__version__.py b/erpnext/__version__.py
index 2f6222cd2e..02b936076b 100644
--- a/erpnext/__version__.py
+++ b/erpnext/__version__.py
@@ -1 +1 @@
-__version__ = '4.22.0'
+__version__ = '4.22.1'
diff --git a/erpnext/hooks.py b/erpnext/hooks.py
index 094a8a5991..e033c7b00e 100644
--- a/erpnext/hooks.py
+++ b/erpnext/hooks.py
@@ -4,7 +4,7 @@ app_publisher = "Web Notes Technologies Pvt. Ltd. and Contributors"
 app_description = "Open Source Enterprise Resource Planning for Small and Midsized Organizations"
 app_icon = "icon-th"
 app_color = "#e74c3c"
-app_version = "4.22.0"
+app_version = "4.22.1"
 
 error_report_email = "support@erpnext.com"
 
diff --git a/erpnext/stock/get_item_details.py b/erpnext/stock/get_item_details.py
index 5145e0ab17..7633bc91fc 100644
--- a/erpnext/stock/get_item_details.py
+++ b/erpnext/stock/get_item_details.py
@@ -144,16 +144,13 @@ def get_basic_details(args, item_doc):
 		"warehouse": user_default_warehouse or args.warehouse or item.default_warehouse,
 		"income_account": (item.income_account
 			or args.income_account
-			or frappe.db.get_value("Item Group", item.item_group, "default_income_account")
-			or frappe.db.get_value("Company", args.company, "default_income_account")),
+			or frappe.db.get_value("Item Group", item.item_group, "default_income_account")),
 		"expense_account": (item.expense_account
 			or args.expense_account
-			or frappe.db.get_value("Item Group", item.item_group, "default_expense_account")
-			or frappe.db.get_value("Company", args.company, "default_expense_account")),
+			or frappe.db.get_value("Item Group", item.item_group, "default_expense_account")),
 		"cost_center": (frappe.db.get_value("Project", args.project_name, "cost_center")
 			or (item.selling_cost_center if args.transaction_type == "selling" else item.buying_cost_center)
-			or frappe.db.get_value("Item Group", item.item_group, "default_cost_center")
-			or frappe.db.get_value("Company", args.company, "cost_center")),
+			or frappe.db.get_value("Item Group", item.item_group, "default_cost_center")),
 		"batch_no": None,
 		"item_tax_rate": json.dumps(dict(([d.tax_type, d.tax_rate] for d in
 			item_doc.get("item_tax")))),
@@ -171,6 +168,12 @@ def get_basic_details(args, item_doc):
 		"discount_percentage": 0.0
 	})
 
+	# if default specified in item is for another company, fetch from company
+	for d in [["Account", "income_account", "default_income_account"], ["Account", "expense_account", "default_expense_account"],
+		["Cost Center", "cost_center", "cost_center"], ["Warehouse", "warehouse", ""]]:
+			if not out[d[1]] or args.company != frappe.db.get_value(d[0], out.get(d[1]), "company"):
+				out[d[1]] = frappe.db.get_value("Company", args.company, d[2]) if d[2] else None
+
 	for fieldname in ("item_name", "item_group", "barcode", "brand", "stock_uom"):
 		out[fieldname] = item.get(fieldname)
 
diff --git a/setup.py b/setup.py
index bd97e86d9b..42385e87d9 100644
--- a/setup.py
+++ b/setup.py
@@ -1,7 +1,7 @@
 from setuptools import setup, find_packages
 import os
 
-version = "4.22.0"
+version = "4.22.1"
 
 with open("requirements.txt", "r") as f:
 	install_requires = f.readlines()