diff --git a/erpnext/patches.txt b/erpnext/patches.txt
index cfc8be90b4b..c1b626502ac 100644
--- a/erpnext/patches.txt
+++ b/erpnext/patches.txt
@@ -386,4 +386,10 @@ erpnext.patches.v14_0.update_stock_uom_in_work_order_item
 erpnext.patches.v15_0.set_is_exchange_gain_loss_in_payment_entry_deductions
 erpnext.patches.v15_0.enable_allow_existing_serial_no
 erpnext.patches.v15_0.update_cc_in_process_statement_of_accounts
+<<<<<<< HEAD
 erpnext.patches.v15_0.update_asset_status_to_work_in_progress
+=======
+erpnext.patches.v15_0.refactor_closing_stock_balance #5
+erpnext.patches.v15_0.update_asset_status_to_work_in_progress
+erpnext.patches.v15_0.migrate_checkbox_to_select_for_reconciliation_effect
+>>>>>>> a8a8ac71b6 (refactor: patch to migrate checkbox to select)
diff --git a/erpnext/patches/v15_0/migrate_checkbox_to_select_for_reconciliation_effect.py b/erpnext/patches/v15_0/migrate_checkbox_to_select_for_reconciliation_effect.py
new file mode 100644
index 00000000000..883921cfdf8
--- /dev/null
+++ b/erpnext/patches/v15_0/migrate_checkbox_to_select_for_reconciliation_effect.py
@@ -0,0 +1,18 @@
+import frappe
+
+
+def execute():
+	"""
+	A New select field 'reconciliation_takes_effect_on' has been added to control Advance Payment Reconciliation dates.
+	Migrate old checkbox configuration to new select field on 'Company' and 'Payment Entry'
+	"""
+	companies = frappe.db.get_all("Company", fields=["name", "reconciliation_takes_effect_on"])
+	for x in companies:
+		new_value = (
+			"Advance Payment Date" if x.reconcile_on_advance_payment_date else "Oldest Of Invoice Or Advance"
+		)
+		frappe.db.set_value("Company", x.name, "reconciliation_takes_effect_on", new_value)
+
+	frappe.db.sql(
+		"""update `tabPayment Entry` set advance_reconciliation_takes_effect_on = if(reconcile_on_advance_payment_date = 0, 'Oldest Of Invoice Or Advance', 'Advance Payment Date')"""
+	)