diff --git a/accounts/doctype/sales_invoice/test_sales_invoice.py b/accounts/doctype/sales_invoice/test_sales_invoice.py
index dfc61eb172..777f51536f 100644
--- a/accounts/doctype/sales_invoice/test_sales_invoice.py
+++ b/accounts/doctype/sales_invoice/test_sales_invoice.py
@@ -269,7 +269,7 @@ class TestSalesInvoice(unittest.TestCase):
 	def test_sales_invoice_gl_entry_without_aii(self):
 		webnotes.defaults.set_global_default("auto_inventory_accounting", 0)
 		
-		si = webnotes.bean(webnotes.copy_doclist(test_records[1]))
+		si = webnotes.bean(copy=test_records[1])
 		si.insert()
 		si.submit()
 		
@@ -711,7 +711,7 @@ test_records = [
 			"qty": 1.0,
 			"basic_rate": 500.0,
 			"amount": 500.0, 
-			"export_rate": 500.0, 
+			"ref_rate": 500.0, 
 			"export_amount": 500.0, 
 			"income_account": "Sales - _TC",
 			"expense_account": "_Test Account Cost for Goods Sold - _TC",
diff --git a/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.py b/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.py
index 6cd2b4ffaa..bc55701f45 100644
--- a/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.py
+++ b/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.py
@@ -25,9 +25,9 @@ class DocType:
 	def get_rate(self, arg):
 		from webnotes.model.code import get_obj
 		return get_obj('Sales Common').get_rate(arg)
-
-	def update_other_default_charges(self):
-		webnotes.conn.sql("update `tabSales Taxes and Charges Master` set is_default = 0 where ifnull(is_default,0) = 1 and name != '%s' and company = '%s'" % (self.doc.name, self.doc.company))
-
-	def on_update(self):
-		self.update_other_default_charges()
+		
+	def validate(self):
+		if self.doc.is_default == 1:
+			webnotes.conn.sql("""update `tabSales Taxes and Charges Master` set is_default = 0 
+				where ifnull(is_default,0) = 1 and name != %s and company = %s""", 
+				(self.doc.name, self.doc.company))
\ No newline at end of file
diff --git a/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.txt b/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.txt
index 8759cb7c63..5de944204c 100644
--- a/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.txt
+++ b/accounts/doctype/sales_taxes_and_charges_master/sales_taxes_and_charges_master.txt
@@ -2,7 +2,7 @@
  {
   "creation": "2013-01-10 16:34:09", 
   "docstatus": 0, 
-  "modified": "2013-01-22 14:57:23", 
+  "modified": "2013-06-20 16:49:12", 
   "modified_by": "Administrator", 
   "owner": "Administrator"
  }, 
@@ -55,14 +55,9 @@
   "label": "Default"
  }, 
  {
-  "description": "* Will be calculated in the transaction.", 
   "doctype": "DocField", 
-  "fieldname": "other_charges", 
-  "fieldtype": "Table", 
-  "label": "Sales Taxes and Charges Master", 
-  "oldfieldname": "other_charges", 
-  "oldfieldtype": "Table", 
-  "options": "Sales Taxes and Charges"
+  "fieldname": "column_break_3", 
+  "fieldtype": "Column Break"
  }, 
  {
   "doctype": "DocField", 
@@ -76,6 +71,30 @@
   "reqd": 1, 
   "search_index": 0
  }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "section_break_5", 
+  "fieldtype": "Section Break"
+ }, 
+ {
+  "description": "* Will be calculated in the transaction.", 
+  "doctype": "DocField", 
+  "fieldname": "other_charges", 
+  "fieldtype": "Table", 
+  "label": "Sales Taxes and Charges Master", 
+  "oldfieldname": "other_charges", 
+  "oldfieldtype": "Table", 
+  "options": "Sales Taxes and Charges"
+ }, 
+ {
+  "description": "Specify a list of Territories, for which, this Taxes Master is valid", 
+  "doctype": "DocField", 
+  "fieldname": "valid_for_territories", 
+  "fieldtype": "Table", 
+  "label": "Valid for Territories", 
+  "options": "For Territory", 
+  "reqd": 1
+ }, 
  {
   "amend": 0, 
   "cancel": 0, 
diff --git a/buying/doctype/purchase_common/purchase_common.js b/buying/doctype/purchase_common/purchase_common.js
index d3a1a60e47..f9694d0695 100644
--- a/buying/doctype/purchase_common/purchase_common.js
+++ b/buying/doctype/purchase_common/purchase_common.js
@@ -349,13 +349,6 @@ erpnext.buying.BuyingController = erpnext.TransactionController.extend({
 		}
 	},
 	
-	set_dynamic_labels: function(doc, dt, dn) {
-		var company_currency = this.get_company_currency();
-		
-		this.change_form_labels(company_currency);
-		this.change_grid_labels(company_currency);
-	},
-	
 	change_form_labels: function(company_currency) {
 		var me = this;
 		var field_label_map = {};
diff --git a/controllers/accounts_controller.py b/controllers/accounts_controller.py
index 9ca68a7ee7..ec7e3e56a3 100644
--- a/controllers/accounts_controller.py
+++ b/controllers/accounts_controller.py
@@ -52,14 +52,16 @@ class AccountsController(TransactionBase):
 					"price_list_name": self.doc.price_list_name, 
 					"buying_or_selling": buying_or_selling
 				}))
-				
-				if not self.doc.plc_conversion_rate:
-					self.doc.plc_conversion_rate = flt(webnotes.conn.get_value("Price List", 
-						self.doc.price_list_name, "conversion_rate"))
+
+				if self.doc.price_list_currency:
+					if not self.doc.plc_conversion_rate:
+						exchange = self.doc.price_list_currency + "-" + get_company_currency(self.doc.company)
+						self.doc.plc_conversion_rate = flt(webnotes.conn.get_value("Currency Exchange",
+							exchange, "exchange_rate"))
 						
-				if not self.doc.currency:
-					self.doc.currency = self.doc.price_list_currency
-					self.doc.conversion_rate = self.doc.plc_conversion_rate
+					if not self.doc.currency:
+						self.doc.currency = self.doc.price_list_currency
+						self.doc.conversion_rate = self.doc.plc_conversion_rate
 				
 	def set_missing_item_details(self, get_item_details):
 		"""set missing item values"""
diff --git a/patches/april_2013/p08_price_list_country.py b/patches/april_2013/p08_price_list_country.py
deleted file mode 100644
index 65643cc239..0000000000
--- a/patches/april_2013/p08_price_list_country.py
+++ /dev/null
@@ -1,5 +0,0 @@
-import webnotes
-
-def execute():
-	webnotes.reload_doc("Setup", "DocType", "Price List")
-	webnotes.conn.sql("""update `tabPrice List` set valid_for_all_countries=1""")
\ No newline at end of file
diff --git a/patches/june_2013/p07_taxes_price_list_for_territory.py b/patches/june_2013/p07_taxes_price_list_for_territory.py
new file mode 100644
index 0000000000..fbce11557a
--- /dev/null
+++ b/patches/june_2013/p07_taxes_price_list_for_territory.py
@@ -0,0 +1,25 @@
+import webnotes
+
+def execute():
+	webnotes.reload_doc("setup", "doctype", "for_territory")
+	webnotes.reload_doc("setup", "doctype", "price_list")
+	webnotes.reload_doc("accounts", "doctype", "sales_taxes_and_charges_master")
+	
+	from setup.utils import get_root_of
+	root_territory = get_root_of("Territory")
+	
+	for parenttype in ["Sales Taxes and Charges Master", "Price List"]:
+		for name in webnotes.conn.sql_list("""select name from `tab%s` main
+			where not exists (select parent from `tabFor Territory` territory
+				where territory.parenttype=%s and territory.parent=main.name)""" % \
+				(parenttype, "%s"), (parenttype,)):
+			
+			doc = webnotes.doc({
+				"doctype": "For Territory",
+				"__islocal": 1,
+				"parenttype": parenttype,
+				"parentfield": "valid_for_territories",
+				"parent": name,
+				"territory": root_territory
+			})
+			doc.save()
diff --git a/patches/june_2013/p08_shopping_cart_settings.py b/patches/june_2013/p08_shopping_cart_settings.py
new file mode 100644
index 0000000000..4d5ebb3822
--- /dev/null
+++ b/patches/june_2013/p08_shopping_cart_settings.py
@@ -0,0 +1,11 @@
+import webnotes
+
+def execute():
+	webnotes.reload_doc("website", "doctype", "shopping_cart_settings")
+	
+	# create two default territories, one for home country and one named Rest of the World
+	from setup.doctype.setup_control.setup_control import create_territories
+	create_territories()
+	
+	webnotes.conn.set_value("Shopping Cart Settings", None, "default_territory", "Rest of the World")
+	
\ No newline at end of file
diff --git a/patches/patch_list.py b/patches/patch_list.py
index 035666c5a4..a5c4d805e4 100644
--- a/patches/patch_list.py
+++ b/patches/patch_list.py
@@ -226,7 +226,6 @@ patch_list = [
 	"execute:webnotes.reset_perms('File Data')",
 	"patches.april_2013.p07_update_file_data_2",
 	"patches.april_2013.rebuild_sales_browser",
-	"patches.april_2013.p08_price_list_country",
 	"patches.may_2013.p01_selling_net_total_export",
 	"patches.may_2013.repost_stock_for_no_posting_time",
 	"patches.may_2013.p01_conversion_factor_and_aii",
@@ -245,4 +244,5 @@ patch_list = [
 	"patches.june_2013.p04_fix_event_for_lead_oppty_project",
 	"patches.june_2013.p05_remove_unused_doctypes",
 	"patches.june_2013.p06_drop_unused_tables",
+	"patches.june_2013.p08_shopping_cart_settings",
 ]
\ No newline at end of file
diff --git a/public/js/transaction.js b/public/js/transaction.js
index 9df0147851..0002f66259 100644
--- a/public/js/transaction.js
+++ b/public/js/transaction.js
@@ -76,9 +76,9 @@ erpnext.TransactionController = wn.ui.form.Controller.extend({
 			$.each(["currency", "price_list_currency"], function(i, fieldname) {
 				if(!me.doc[fieldname]) {
 					me.frm.set_value(fieldname, company_currency);
+					me[fieldname]();
 				}
 			});
-			this.price_list_currency();
 		}
 	},
 	
@@ -87,10 +87,33 @@ erpnext.TransactionController = wn.ui.form.Controller.extend({
 	},
 	
 	currency: function() {
-		if(this.frm.doc.currency === this.get_company_currency())
-			this.frm.set_value("conversion_rate", 1.0);
+		var me = this;
+		this.set_dynamic_labels();
 		
-		this.price_list_currency();
+		var company_currency = this.get_company_currency();
+		if(this.frm.doc.currency !== company_currency) {
+			this.get_exchange_rate(this.frm.doc.currency, company_currency, 
+				function(exchange_rate) {
+					if(exchange_rate) {
+						me.frm.set_value("conversion_rate", exchange_rate);
+						me.conversion_rate();
+					}
+				});
+		} else {
+			this.conversion_rate();		
+		}
+	},
+	
+	conversion_rate: function() {
+		if(this.frm.doc.currency === this.get_company_currency() &&
+			this.frm.doc.conversion_rate !== 1.0) {
+				this.frm.set_value("conversion_rate", 1.0);
+		} else if(this.frm.doc.currency === this.frm.doc.price_list_currency &&
+			this.frm.doc.plc_conversion_rate !== this.frm.doc.conversion_rate) {
+				this.frm.set_value("plc_conversion_rate", this.frm.doc.conversion_rate);
+		}
+		
+		this.calculate_taxes_and_totals();
 	},
 	
 	price_list_name: function(buying_or_selling) {
@@ -98,7 +121,7 @@ erpnext.TransactionController = wn.ui.form.Controller.extend({
 		if(this.frm.doc.price_list_name) {
 			this.frm.call({
 				method: "setup.utils.get_price_list_currency",
-				args: {args: {
+				args: { args: {
 					price_list_name: this.frm.doc.price_list_name,
 					buying_or_selling: buying_or_selling
 				}},
@@ -111,26 +134,38 @@ erpnext.TransactionController = wn.ui.form.Controller.extend({
 		}
 	},
 	
+	get_exchange_rate: function(from_currency, to_currency, callback) {
+		var exchange_name = from_currency + "-" + to_currency;
+		wn.model.with_doc("Currency Exchange", exchange_name, function(name) {
+			var exchange_doc = wn.model.get_doc("Currency Exchange", exchange_name);
+			callback(exchange_doc ? flt(exchange_doc.exchange_rate)) : 0);
+		});
+	},
+	
 	price_list_currency: function() {
-		// What TODO? should we make price list system non-mandatory?
-		this.frm.toggle_reqd("plc_conversion_rate",
-			!!(this.frm.doc.price_list_name && this.frm.doc.price_list_currency));
-		
-		if(this.frm.doc.price_list_currency === this.get_company_currency()) {
-			this.frm.set_value("plc_conversion_rate", 1.0);
-		} else if(this.frm.doc.price_list_currency === this.frm.doc.currency) {
-			this.frm.set_value("plc_conversion_rate", this.frm.doc.conversion_rate);
-		}
 		this.set_dynamic_labels();
+		
+		var company_currency = this.get_company_currency();
+		if(this.frm.doc.price_list_currency !== company_currency) {
+			this.get_exchange_rate(this.frm.doc.price_list_currency, company_currency, 
+				function(exchange_rate) {
+					if(exchange_rate) {
+						me.frm.set_value("price_list_currency", exchange_rate);
+						me.plc_conversion_rate();
+					}
+				});
+		} else {
+			this.plc_conversion_rate();
+		}
 	},
 	
 	plc_conversion_rate: function() {
-		this.price_list_currency();
-	},
-	
-	conversion_rate: function() {
-		this.price_list_currency();
-		this.calculate_taxes_and_totals();
+		if(this.frm.doc.price_list_currency === this.get_company_currency()) {
+			this.frm.set_value("plc_conversion_rate", 1.0);
+		} else if(this.frm.doc.price_list_currency === this.frm.doc.currency) {
+			this.frm.set_value("conversion_rate", this.frm.doc.plc_conversion_rate);
+			this.calculate_taxes_and_totals();
+		}
 	},
 	
 	qty: function(doc, cdt, cdn) {
@@ -153,6 +188,16 @@ erpnext.TransactionController = wn.ui.form.Controller.extend({
 		}
 	},
 	
+	set_dynamic_labels: function() {
+		// What TODO? should we make price list system non-mandatory?
+		this.frm.toggle_reqd("plc_conversion_rate",
+			!!(this.frm.doc.price_list_name && this.frm.doc.price_list_currency));
+			
+		var company_currency = this.get_company_currency();
+		this.change_form_labels(company_currency);
+		this.change_grid_labels(company_currency);
+	},
+	
 	recalculate: function() {
 		this.calculate_taxes_and_totals();
 	},
diff --git a/selling/doctype/sales_common/sales_common.js b/selling/doctype/sales_common/sales_common.js
index 0a7bef7e2f..2d30601f26 100644
--- a/selling/doctype/sales_common/sales_common.js
+++ b/selling/doctype/sales_common/sales_common.js
@@ -384,10 +384,7 @@ erpnext.selling.SellingController = erpnext.TransactionController.extend({
 	},
 	
 	set_dynamic_labels: function() {
-		var company_currency = this.get_company_currency();
-		
-		this.change_form_labels(company_currency);
-		this.change_grid_labels(company_currency);
+		this._super();
 		set_sales_bom_help(this.frm.doc);
 	},
 	
diff --git a/setup/doctype/currency/currency.py b/setup/doctype/currency/currency.py
index 7794430349..7f48feb2eb 100644
--- a/setup/doctype/currency/currency.py
+++ b/setup/doctype/currency/currency.py
@@ -19,4 +19,4 @@ import webnotes
 
 class DocType:
 	def __init__(self, d, dl):
-		self.doc, self.doclist = d, dl
+		self.doc, self.doclist = d, dl
\ No newline at end of file
diff --git a/setup/doctype/price_list_country/__init__.py b/setup/doctype/currency_exchange/__init__.py
similarity index 100%
rename from setup/doctype/price_list_country/__init__.py
rename to setup/doctype/currency_exchange/__init__.py
diff --git a/setup/doctype/currency_exchange/currency_exchange.py b/setup/doctype/currency_exchange/currency_exchange.py
new file mode 100644
index 0000000000..f1ff49ed93
--- /dev/null
+++ b/setup/doctype/currency_exchange/currency_exchange.py
@@ -0,0 +1,19 @@
+# For license information, please see license.txt
+
+from __future__ import unicode_literals
+import webnotes
+from webnotes import _, msgprint
+from webnotes.model.controller import DocListController
+
+class DocType(DocListController):
+	def __init__(self, d, dl):
+		self.doc, self.doclist = d, dl
+		
+	def autoname(self):
+		self.doc.name = self.doc.from_currency + "-" + self.doc.to_currency
+		
+	def validate(self):
+		self.validate_value("exchange_rate", ">", 0)
+		
+		if self.doc.from_currency == self.doc.to_currency:
+			msgprint(_("From Currency and To Currency cannot be same"), raise_exception=True)
\ No newline at end of file
diff --git a/setup/doctype/currency_exchange/currency_exchange.txt b/setup/doctype/currency_exchange/currency_exchange.txt
new file mode 100644
index 0000000000..1a05ebe908
--- /dev/null
+++ b/setup/doctype/currency_exchange/currency_exchange.txt
@@ -0,0 +1,50 @@
+[
+ {
+  "creation": "2013-06-20 15:40:29", 
+  "docstatus": 0, 
+  "modified": "2013-06-20 15:40:29", 
+  "modified_by": "Administrator", 
+  "owner": "Administrator"
+ }, 
+ {
+  "allow_import": 1, 
+  "description": "Specify Exchange Rate to convert one currency into another", 
+  "doctype": "DocType", 
+  "document_type": "Master", 
+  "module": "Setup", 
+  "name": "__common__"
+ }, 
+ {
+  "doctype": "DocField", 
+  "name": "__common__", 
+  "parent": "Currency Exchange", 
+  "parentfield": "fields", 
+  "parenttype": "DocType", 
+  "permlevel": 0, 
+  "reqd": 1
+ }, 
+ {
+  "doctype": "DocType", 
+  "name": "Currency Exchange"
+ }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "from_currency", 
+  "fieldtype": "Link", 
+  "label": "From Currency", 
+  "options": "Currency"
+ }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "to_currency", 
+  "fieldtype": "Link", 
+  "label": "To Currency", 
+  "options": "Currency"
+ }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "exchange_rate", 
+  "fieldtype": "Float", 
+  "label": "Exchange Rate"
+ }
+]
\ No newline at end of file
diff --git a/setup/doctype/for_territory/__init__.py b/setup/doctype/for_territory/__init__.py
new file mode 100644
index 0000000000..e69de29bb2
diff --git a/setup/doctype/price_list_country/price_list_country.py b/setup/doctype/for_territory/for_territory.py
similarity index 100%
rename from setup/doctype/price_list_country/price_list_country.py
rename to setup/doctype/for_territory/for_territory.py
diff --git a/setup/doctype/price_list_country/price_list_country.txt b/setup/doctype/for_territory/for_territory.txt
similarity index 62%
rename from setup/doctype/price_list_country/price_list_country.txt
rename to setup/doctype/for_territory/for_territory.txt
index 640b0a8052..658a11c7ac 100644
--- a/setup/doctype/price_list_country/price_list_country.txt
+++ b/setup/doctype/for_territory/for_territory.txt
@@ -1,13 +1,12 @@
 [
  {
-  "creation": "2013-04-29 18:24:32", 
+  "creation": "2013-06-20 12:48:38", 
   "docstatus": 0, 
-  "modified": "2013-04-29 18:24:32", 
+  "modified": "2013-06-20 12:48:38", 
   "modified_by": "Administrator", 
   "owner": "Administrator"
  }, 
  {
-  "autoname": "PLCNTRY-.#####", 
   "doctype": "DocType", 
   "istable": 1, 
   "module": "Setup", 
@@ -15,12 +14,12 @@
  }, 
  {
   "doctype": "DocField", 
-  "fieldname": "country", 
+  "fieldname": "territory", 
   "fieldtype": "Link", 
-  "label": "Country", 
+  "label": "Territory", 
   "name": "__common__", 
-  "options": "Country", 
-  "parent": "Price List Country", 
+  "options": "Territory", 
+  "parent": "For Territory", 
   "parentfield": "fields", 
   "parenttype": "DocType", 
   "permlevel": 0, 
@@ -28,7 +27,7 @@
  }, 
  {
   "doctype": "DocType", 
-  "name": "Price List Country"
+  "name": "For Territory"
  }, 
  {
   "doctype": "DocField"
diff --git a/setup/doctype/price_list/price_list.py b/setup/doctype/price_list/price_list.py
index e6e7b7f61c..b40a46f040 100644
--- a/setup/doctype/price_list/price_list.py
+++ b/setup/doctype/price_list/price_list.py
@@ -17,7 +17,7 @@
 from __future__ import unicode_literals
 import webnotes
 from webnotes import msgprint, _
-from webnotes.utils import cint, comma_or
+from webnotes.utils import comma_or
 from webnotes.model.controller import DocListController
 
 class DocType(DocListController):
@@ -26,33 +26,10 @@ class DocType(DocListController):
 			where price_list_name=%s""", self.doc.name, as_dict=True, update={"doctype": "Item Price"}))
 	
 	def validate(self):
-		if not (cint(self.doc.valid_for_all_countries) or len(self.doclist.get({"parentfield": "valid_for_countries"}))):
-			msgprint(_("""Please check "Valid For All Countries" or \
-				enter atlease one row in the "Countries" table."""), raise_exception=True)
-				
 		if self.doc.buying_or_selling not in ["Buying", "Selling"]:
 			msgprint(_(self.meta.get_label("buying_or_selling")) + " " + _("must be one of") + " " +
 				comma_or(["Buying", "Selling"]), raise_exception=True)
 				
-		self.validate_use_for_website()
-		
-	def validate_use_for_website(self):
-		if self.doc.use_for_website:
-			if self.doc.valid_for_all_countries:
-				if webnotes.conn.sql("""select name from `tabPrice List` where use_for_website=1
-					and valid_for_all_countries=1 and name!=%s""", self.doc.name):
-						webnotes.msgprint(_("Error: Another Price List already exists that is used for website and is valid for all countries."), 
-							raise_exception=True)
-				
-			elif self.doclist.get({"parentfield": "valid_for_countries"}):
-				for d in self.doclist.get({"parentfield": "valid_for_countries"}):
-					if webnotes.conn.sql("""select country from `tabPrice List Country` plc, `tabPrice List` pl
-						where plc.parent=pl.name and pl.use_for_website=1 and 
-						ifnull(valid_for_all_countries, 0)=0 and country=%s and pl.name!=%s""", 
-						(d.country, self.doc.name)):
-							webnotes.msgprint(_("Error: Another Price List already exists that is used for website and is valid for country") 
-								+ ": " + d.country, raise_exception=True)
-	
 	def on_trash(self):
 		webnotes.conn.sql("""delete from `tabItem Price` where price_list_name = %s""", 
 			self.doc.name)
\ No newline at end of file
diff --git a/setup/doctype/price_list/price_list.txt b/setup/doctype/price_list/price_list.txt
index 8115f3d32b..9bc18dc062 100644
--- a/setup/doctype/price_list/price_list.txt
+++ b/setup/doctype/price_list/price_list.txt
@@ -2,7 +2,7 @@
  {
   "creation": "2013-01-25 11:35:09", 
   "docstatus": 0, 
-  "modified": "2013-06-19 15:24:23", 
+  "modified": "2013-06-20 12:53:10", 
   "modified_by": "Administrator", 
   "owner": "Administrator"
  }, 
@@ -60,13 +60,6 @@
   "options": "Currency", 
   "reqd": 1
  }, 
- {
-  "doctype": "DocField", 
-  "fieldname": "conversion_rate", 
-  "fieldtype": "Float", 
-  "label": "Conversion Rate", 
-  "reqd": 1
- }, 
  {
   "default": "Selling", 
   "doctype": "DocField", 
@@ -76,31 +69,19 @@
   "options": "Buying\nSelling", 
   "reqd": 1
  }, 
- {
-  "doctype": "DocField", 
-  "fieldname": "use_for_website", 
-  "fieldtype": "Check", 
-  "label": "Use for Website"
- }, 
  {
   "doctype": "DocField", 
   "fieldname": "column_break_3", 
   "fieldtype": "Column Break"
  }, 
  {
-  "default": "1", 
+  "description": "Specify a list of Territories, for which, this Price List is valid", 
   "doctype": "DocField", 
-  "fieldname": "valid_for_all_countries", 
-  "fieldtype": "Check", 
-  "label": "Valid for all countries"
- }, 
- {
-  "description": "Or specify a list of Countries, for which, this Price List is valid", 
-  "doctype": "DocField", 
-  "fieldname": "valid_for_countries", 
+  "fieldname": "valid_for_territories", 
   "fieldtype": "Table", 
-  "label": "Valid for the following countries", 
-  "options": "Price List Country"
+  "label": "Valid for Territories", 
+  "options": "For Territory", 
+  "reqd": 1
  }, 
  {
   "doctype": "DocField", 
diff --git a/setup/doctype/price_list/test_price_list.py b/setup/doctype/price_list/test_price_list.py
index dc727c5ab7..f776972898 100644
--- a/setup/doctype/price_list/test_price_list.py
+++ b/setup/doctype/price_list/test_price_list.py
@@ -5,7 +5,6 @@ test_records = [
 		"currency": "INR",
 		"valid_for_all_countries": 1,
 		"buying_or_selling": "Selling",
-		"use_for_website": 1,
 		"conversion_rate": 1.0
 	}]
 ]
\ No newline at end of file
diff --git a/setup/doctype/price_list_country/README.md b/setup/doctype/price_list_country/README.md
deleted file mode 100644
index c2966e3e60..0000000000
--- a/setup/doctype/price_list_country/README.md
+++ /dev/null
@@ -1 +0,0 @@
-Countries where parent Price List is valid.
\ No newline at end of file
diff --git a/setup/doctype/setup_control/setup_control.py b/setup/doctype/setup_control/setup_control.py
index 5bfe4a7d94..f8290da5e3 100644
--- a/setup/doctype/setup_control/setup_control.py
+++ b/setup/doctype/setup_control/setup_control.py
@@ -64,7 +64,6 @@ class DocType:
 
 		# enable default currency
 		webnotes.conn.set_value("Currency", args.get("currency"), "enabled", 1)
-
 		
 		def_args = {
 			'current_fiscal_year':curr_fiscal_year,
@@ -91,6 +90,8 @@ class DocType:
 			cp_args[k] = args[k]
 		
 		self.set_cp_defaults(**cp_args)
+		
+		create_territories()
 
 		self.create_feed_and_todo()
 		
@@ -102,9 +103,10 @@ class DocType:
 		import webnotes.utils
 		user_fullname = (args.get('first_name') or '') + (args.get('last_name')
 				and (" " + args.get('last_name')) or '')
+				
 		webnotes.conn.commit()
 		return {'sys_defaults': webnotes.utils.get_defaults(), 'user_fullname': user_fullname}
-
+		
 	def create_feed_and_todo(self):
 		"""update activty feed and create todo for creation of item, customer, vendor"""
 		import home
@@ -245,4 +247,19 @@ def add_all_roles_to(name):
 		if role[0] not in ["Administrator", "Guest", "All", "Customer", "Supplier", "Partner"]:
 			d = profile.addchild("userroles", "UserRole")
 			d.role = role[0]
-			d.insert()
\ No newline at end of file
+			d.insert()
+			
+def create_territories():
+	"""create two default territories, one for home country and one named Rest of the World"""
+	from setup.utils import get_root_of
+	country = webnotes.conn.get_value("Control Panel", None, "country")
+	root_territory = get_root_of("Territory")
+	for name in (country, "Rest Of The World"):
+		if not webnotes.conn.exists("Territory", name):
+			webnotes.bean({
+				"doctype": "Territory",
+				"territory_name": name,
+				"parent_territory": root_territory,
+				"is_group": "No"
+			}).insert()
+		
\ No newline at end of file
diff --git a/setup/utils.py b/setup/utils.py
index b4f38ceb8e..04c4527cec 100644
--- a/setup/utils.py
+++ b/setup/utils.py
@@ -29,6 +29,19 @@ def get_company_currency(company):
 		
 	return currency
 
+def get_root_of(doctype):
+	"""Get root element of a DocType with a tree structure"""
+	result = webnotes.conn.sql_list("""select name from `tab%s` 
+		where lft=1 and rgt=(select max(rgt) from `tab%s`)""" % (doctype, doctype))
+	return result[0] if result else None
+	
+def get_ancestors_of(doctype, name):
+	"""Get ancestor elements of a DocType with a tree structure"""
+	lft, rgt = webnotes.conn.get_value(doctype, name, ["lft", "rgt"])
+	result = webnotes.conn.sql_list("""select name from `tab%s` 
+		where lft<%s and rgt>%s""" % (doctype, "%s", "%s"), (lft, rgt))
+	return result or None
+
 @webnotes.whitelist()
 def get_price_list_currency(args):
 	"""
diff --git a/startup/install.py b/startup/install.py
index bc8c38710d..a3eec66d09 100644
--- a/startup/install.py
+++ b/startup/install.py
@@ -137,8 +137,10 @@ def import_defaults():
 		{'doctype': 'Supplier Type', 'name': 'Default Supplier Type', 'supplier_type': 'Default Supplier Type'},
 		
 		# Price List
-		{'doctype': 'Price List', 'name': 'Default Price List', 'price_list_name': 'Default Price List'},
-		{'doctype': 'Price List', 'name': 'Standard', 'price_list_name': 'Standard'},
+		{'doctype': 'Price List', 'name': 'Default Price List', 'price_list_name': 'Default Price List',
+			"buying_or_selling": "Selling"},
+		{'doctype': 'Price List', 'name': 'Standard', 'price_list_name': 'Standard',
+			"buying_or_selling": "Selling"},
 				
 		# warehouse type
 		{'doctype': 'Warehouse Type', 'name': 'Default Warehouse Type', 'warehouse_type': 'Default Warehouse Type'},
@@ -174,6 +176,6 @@ def import_defaults():
 	]
 	
 	for r in records:
-		doc = webnotes.doc(r)
-		doc.insert()
+		bean = webnotes.bean(r)
+		bean.insert()
 	
\ No newline at end of file
diff --git a/website/doctype/shopping_cart_price_list/__init__.py b/website/doctype/shopping_cart_price_list/__init__.py
new file mode 100644
index 0000000000..e69de29bb2
diff --git a/website/doctype/shopping_cart_price_list/shopping_cart_price_list.py b/website/doctype/shopping_cart_price_list/shopping_cart_price_list.py
new file mode 100644
index 0000000000..928aa9ff9f
--- /dev/null
+++ b/website/doctype/shopping_cart_price_list/shopping_cart_price_list.py
@@ -0,0 +1,8 @@
+# For license information, please see license.txt
+
+from __future__ import unicode_literals
+import webnotes
+
+class DocType:
+	def __init__(self, d, dl):
+		self.doc, self.doclist = d, dl
\ No newline at end of file
diff --git a/website/doctype/shopping_cart_price_list/shopping_cart_price_list.txt b/website/doctype/shopping_cart_price_list/shopping_cart_price_list.txt
new file mode 100644
index 0000000000..57ddc21cc3
--- /dev/null
+++ b/website/doctype/shopping_cart_price_list/shopping_cart_price_list.txt
@@ -0,0 +1,35 @@
+[
+ {
+  "creation": "2013-06-20 16:00:18", 
+  "docstatus": 0, 
+  "modified": "2013-06-20 16:01:34", 
+  "modified_by": "Administrator", 
+  "owner": "Administrator"
+ }, 
+ {
+  "doctype": "DocType", 
+  "istable": 1, 
+  "module": "Website", 
+  "name": "__common__"
+ }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "price_list", 
+  "fieldtype": "Link", 
+  "label": "Price List", 
+  "name": "__common__", 
+  "options": "Price List", 
+  "parent": "Shopping Cart Price List", 
+  "parentfield": "fields", 
+  "parenttype": "DocType", 
+  "permlevel": 0, 
+  "reqd": 1
+ }, 
+ {
+  "doctype": "DocType", 
+  "name": "Shopping Cart Price List"
+ }, 
+ {
+  "doctype": "DocField"
+ }
+]
\ No newline at end of file
diff --git a/website/doctype/shopping_cart_settings/shopping_cart_settings.py b/website/doctype/shopping_cart_settings/shopping_cart_settings.py
index 928aa9ff9f..516c96834f 100644
--- a/website/doctype/shopping_cart_settings/shopping_cart_settings.py
+++ b/website/doctype/shopping_cart_settings/shopping_cart_settings.py
@@ -2,7 +2,73 @@
 
 from __future__ import unicode_literals
 import webnotes
+from webnotes import _, msgprint
+from webnotes.utils import comma_and
+from webnotes.model.controller import DocListController
 
-class DocType:
+class ShoppingCartSetupError(webnotes.ValidationError): pass
+
+class DocType(DocListController):
 	def __init__(self, d, dl):
-		self.doc, self.doclist = d, dl
\ No newline at end of file
+		self.doc, self.doclist = d, dl
+		
+	def validate(self):
+		if self.doc.enabled:
+			self.validate_overlapping_territories("shopping_cart_price_lists", "price_list")
+			self.validate_overlapping_territories("shopping_cart_taxes_and_charges_masters", 
+				"sales_taxes_and_charges_master")
+			self.validate_shipping_rules()
+			self.validate_exchange_rates_exist()
+	
+	def validate_overlapping_territories(self, parentfield, fieldname):
+		names = [doc.fields(fieldname) for doc in self.doclist.get({"parentfield": parentfield})]
+		doctype = self.meta.get_field(parentfield).options
+		parenttype = self.meta.get_field(fieldname, parentfield=parentfield).options
+		
+		if not names:
+			msgprint(_("Please specify at least one") + " " + _(doctype),
+				raise_exception=ShoppingCartSetupError)
+		
+		territory_name = webnotes.conn.sql("""select territory, parent from `tabFor Territory`
+			where parenttype=%s and parent in (%s)""" % ("%s", ", ".join(["%s"]*names)), 
+			tuple([parenttype] + names))
+		
+		territory_name_map = {}
+		for territory, name in territory_name:
+			territory_name_map.setdefault(territory, []).append(name)
+			
+		for territory, names in territory_name_map.items():
+			if len(names) > 1:
+				msgprint(_("Error for") + " " + _(doctype) + ": " + comma_and(names) +
+					" " + _("have a common territory") + ": " + territory,
+					raise_exception=ShoppingCartSetupError)
+					
+	def validate_shipping_rules(self):
+		pass
+					
+	def validate_exchange_rates_exist(self):
+		"""check if exchange rates exist for all Price List currencies (to company's currency)"""
+		company_currency = webnotes.conn.get_value("Company", self.doc.company, "default_currency")
+		if not company_currency:
+			msgprint(_("Please specify currency in Company") + ": " + self.doc.company,
+				raise_exception=ShoppingCartSetupError)
+		
+		price_list_currency_map = webnotes.conn.get_values("Price List", 
+			[d.price_list for d in self.doclist.get({"parentfield": "shopping_cart_price_lists"})],
+			"currency")
+		
+		expected_to_exist = [currency + "-" + company_currency 
+			for currency in price_list_currency_map.values()
+			if currency != company_currency]
+
+		exists = webnotes.conn.sql_list("""select name from `tabCurrency Exchange`
+			where name in (%s)""" % (", ".join(["%s"]*len(expected_to_exist)),),
+			tuple(expected_to_exist))
+		
+		missing = list(set(expected_to_exist).difference(exists))
+		
+		if missing:
+			msgprint(_("Missing Currency Exchange Rates for" + ": " + comma_and(missing)),
+				raise_exception=ShoppingCartSetupError)
+		
+		
\ No newline at end of file
diff --git a/website/doctype/shopping_cart_settings/shopping_cart_settings.txt b/website/doctype/shopping_cart_settings/shopping_cart_settings.txt
index 627c1274c6..82e3baed37 100644
--- a/website/doctype/shopping_cart_settings/shopping_cart_settings.txt
+++ b/website/doctype/shopping_cart_settings/shopping_cart_settings.txt
@@ -2,7 +2,7 @@
  {
   "creation": "2013-06-19 15:57:32", 
   "docstatus": 0, 
-  "modified": "2013-06-19 16:01:25", 
+  "modified": "2013-06-21 12:59:30", 
   "modified_by": "Administrator", 
   "owner": "Administrator"
  }, 
@@ -15,16 +15,11 @@
  }, 
  {
   "doctype": "DocField", 
-  "fieldname": "territory", 
-  "fieldtype": "Link", 
-  "label": "Default Territory", 
   "name": "__common__", 
-  "options": "Territory", 
   "parent": "Shopping Cart Settings", 
   "parentfield": "fields", 
   "parenttype": "DocType", 
-  "permlevel": 0, 
-  "reqd": 1
+  "permlevel": 0
  }, 
  {
   "create": 1, 
@@ -43,7 +38,42 @@
   "name": "Shopping Cart Settings"
  }, 
  {
-  "doctype": "DocField"
+  "doctype": "DocField", 
+  "fieldname": "enabled", 
+  "fieldtype": "Check", 
+  "label": "Enable Shopping Cart"
+ }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "default_territory", 
+  "fieldtype": "Link", 
+  "label": "Default Territory", 
+  "options": "Territory", 
+  "reqd": 1
+ }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "shopping_cart_price_lists", 
+  "fieldtype": "Table", 
+  "label": "Shopping Cart Price Lists", 
+  "options": "Shopping Cart Price List", 
+  "reqd": 0
+ }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "shopping_cart_taxes_and_charges_masters", 
+  "fieldtype": "Table", 
+  "label": "Shopping Cart Taxes and Charges Masters", 
+  "options": "Shopping Cart Taxes and Charges Master", 
+  "reqd": 0
+ }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "company", 
+  "fieldtype": "Link", 
+  "label": "Company", 
+  "options": "Company", 
+  "reqd": 1
  }, 
  {
   "doctype": "DocPerm"
diff --git a/website/doctype/shopping_cart_taxes_and_charges_master/__init__.py b/website/doctype/shopping_cart_taxes_and_charges_master/__init__.py
new file mode 100644
index 0000000000..e69de29bb2
diff --git a/website/doctype/shopping_cart_taxes_and_charges_master/shopping_cart_taxes_and_charges_master.py b/website/doctype/shopping_cart_taxes_and_charges_master/shopping_cart_taxes_and_charges_master.py
new file mode 100644
index 0000000000..928aa9ff9f
--- /dev/null
+++ b/website/doctype/shopping_cart_taxes_and_charges_master/shopping_cart_taxes_and_charges_master.py
@@ -0,0 +1,8 @@
+# For license information, please see license.txt
+
+from __future__ import unicode_literals
+import webnotes
+
+class DocType:
+	def __init__(self, d, dl):
+		self.doc, self.doclist = d, dl
\ No newline at end of file
diff --git a/website/doctype/shopping_cart_taxes_and_charges_master/shopping_cart_taxes_and_charges_master.txt b/website/doctype/shopping_cart_taxes_and_charges_master/shopping_cart_taxes_and_charges_master.txt
new file mode 100644
index 0000000000..6cd9f382d8
--- /dev/null
+++ b/website/doctype/shopping_cart_taxes_and_charges_master/shopping_cart_taxes_and_charges_master.txt
@@ -0,0 +1,35 @@
+[
+ {
+  "creation": "2013-06-20 16:57:03", 
+  "docstatus": 0, 
+  "modified": "2013-06-20 16:57:03", 
+  "modified_by": "Administrator", 
+  "owner": "Administrator"
+ }, 
+ {
+  "doctype": "DocType", 
+  "istable": 1, 
+  "module": "Website", 
+  "name": "__common__"
+ }, 
+ {
+  "doctype": "DocField", 
+  "fieldname": "sales_taxes_and_charges_master", 
+  "fieldtype": "Link", 
+  "label": "Tax Master", 
+  "name": "__common__", 
+  "options": "Sales Taxes and Charges Master", 
+  "parent": "Shopping Cart Taxes and Charges Master", 
+  "parentfield": "fields", 
+  "parenttype": "DocType", 
+  "permlevel": 0, 
+  "reqd": 1
+ }, 
+ {
+  "doctype": "DocType", 
+  "name": "Shopping Cart Taxes and Charges Master"
+ }, 
+ {
+  "doctype": "DocField"
+ }
+]
\ No newline at end of file