diff --git a/erpnext/patches.txt b/erpnext/patches.txt
index 9e4dc12e653..07b646b0f82 100644
--- a/erpnext/patches.txt
+++ b/erpnext/patches.txt
@@ -645,4 +645,5 @@ erpnext.patches.v12_0.replace_accounting_with_accounts_in_home_settings
 erpnext.patches.v12_0.set_payment_entry_status
 erpnext.patches.v12_0.update_owner_fields_in_acc_dimension_custom_fields
 erpnext.patches.v12_0.set_default_for_add_taxes_from_item_tax_template
-erpnext.patches.v12_0.remove_denied_leaves_from_leave_ledger
\ No newline at end of file
+erpnext.patches.v12_0.remove_denied_leaves_from_leave_ledger
+erpnext.patches.v12_0.update_price_or_product_discount
\ No newline at end of file
diff --git a/erpnext/patches/v12_0/update_price_or_product_discount.py b/erpnext/patches/v12_0/update_price_or_product_discount.py
new file mode 100644
index 00000000000..3a8cd43e302
--- /dev/null
+++ b/erpnext/patches/v12_0/update_price_or_product_discount.py
@@ -0,0 +1,8 @@
+from __future__ import unicode_literals
+import frappe
+
+def execute():
+	frappe.reload_doc("accounts", "doctype", "pricing_rule")
+
+	frappe.db.sql(""" UPDATE `tabPricing Rule` SET price_or_product_discount = 'Price'
+		WHERE ifnull(price_or_product_discount,'') = '' """)