diff --git a/erpnext/accounts/report/budget_variance_report/budget_variance_report.js b/erpnext/accounts/report/budget_variance_report/budget_variance_report.js
index c74450191aa..1bb9abd8c92 100644
--- a/erpnext/accounts/report/budget_variance_report/budget_variance_report.js
+++ b/erpnext/accounts/report/budget_variance_report/budget_variance_report.js
@@ -38,6 +38,14 @@ function get_filters() {
 	let budget_against_options = get_dimensions();
 
 	let filters = [
+		{
+			fieldname: "company",
+			label: __("Company"),
+			fieldtype: "Link",
+			options: "Company",
+			default: frappe.defaults.get_user_default("Company"),
+			reqd: 1,
+		},
 		{
 			fieldname: "from_fiscal_year",
 			label: __("From Fiscal Year"),
@@ -67,14 +75,6 @@ function get_filters() {
 			default: "Yearly",
 			reqd: 1,
 		},
-		{
-			fieldname: "company",
-			label: __("Company"),
-			fieldtype: "Link",
-			options: "Company",
-			default: frappe.defaults.get_user_default("Company"),
-			reqd: 1,
-		},
 		{
 			fieldname: "budget_against",
 			label: __("Budget Against"),
@@ -96,9 +96,12 @@ function get_filters() {
 				if (!frappe.query_report.filters) return;
 
 				let budget_against = frappe.query_report.get_filter_value("budget_against");
+				let company = frappe.query_report.get_filter_value("company");
 				if (!budget_against) return;
 
-				return frappe.db.get_link_options(budget_against, txt);
+				const filters = budget_against !== "Branch" && company ? { company: company } : {};
+
+				return frappe.db.get_link_options(budget_against, txt, filters);
 			},
 		},
 		{