diff --git a/erpnext/controllers/accounts_controller.py b/erpnext/controllers/accounts_controller.py
index 7fa81c99267..0d189c741d3 100644
--- a/erpnext/controllers/accounts_controller.py
+++ b/erpnext/controllers/accounts_controller.py
@@ -146,7 +146,6 @@ class AccountsController(TransactionBase):
 			self.currency = company_currency
 			self.conversion_rate = 1.0
 		else:
-			from erpnext.setup.doctype.currency.currency import validate_conversion_rate
 			validate_conversion_rate(self.currency, self.conversion_rate,
 				self.meta.get_label("conversion_rate"), self.company)
 
@@ -500,3 +499,12 @@ def get_taxes_and_charges(master_doctype, master_name, tax_parentfield):
 		taxes_and_charges.append(tax)
 
 	return taxes_and_charges
+
+def validate_conversion_rate(currency, conversion_rate, conversion_rate_label, company):
+	"""common validation for currency and price list currency"""
+
+	company_currency = frappe.db.get_value("Company", company, "default_currency")
+
+	if not conversion_rate:
+		throw(_("{0} is mandatory. Maybe Currency Exchange record is not created for {1} to {2}.").format(
+			conversion_rate_label, currency, company_currency))
diff --git a/erpnext/stock/get_item_details.py b/erpnext/stock/get_item_details.py
index fffb52e835f..19f97247adf 100644
--- a/erpnext/stock/get_item_details.py
+++ b/erpnext/stock/get_item_details.py
@@ -8,6 +8,7 @@ from frappe.utils import flt, cint, add_days
 import json
 from erpnext.accounts.doctype.pricing_rule.pricing_rule import get_pricing_rule_for_item
 from erpnext.setup.utils import get_exchange_rate
+from frappe.model.meta import get_field_precision
 
 @frappe.whitelist()
 def get_item_details(args):
@@ -206,8 +207,7 @@ def validate_price_list(args):
 		throw(_("Price List not selected"))
 
 def validate_conversion_rate(args, meta):
-	from erpnext.setup.doctype.currency.currency import validate_conversion_rate
-	from frappe.model.meta import get_field_precision
+	from erpnext.controllers.accounts_controller import validate_conversion_rate
 
 	# validate currency conversion rate
 	validate_conversion_rate(args.currency, args.conversion_rate,