diff --git a/erpnext/change_log/v12/v12_5_0.md b/erpnext/change_log/v12/v12_5_0.md
new file mode 100644
index 00000000000..e398bd7c450
--- /dev/null
+++ b/erpnext/change_log/v12/v12_5_0.md
@@ -0,0 +1,53 @@
+## Version 12.4.0 Release Note
+
+### New Features:
+- **Group by Customer / Customer Group / Item / Item Group / Territory / Invoice** option in Itemised Sales Register report [#20251](https://github.com/frappe/erpnext/pull/20251)
+
+- **Group by Supplier / Item / Item Group / Invoice** option in Itemised Purchase Register report
+
+- **Group by Customer / Supplier** option in Accounts Receivable / Payable report
+
+- Enhanced Fixed Asset Register report [#20332](https://github.com/frappe/erpnext/pull/20332)
+
+- Added tax category in pos profile [#20413](https://github.com/frappe/erpnext/pull/20413)
+
+
+### Fixes
+- GL Entries were not creating on manual asset creation [#20265](https://github.com/frappe/erpnext/pull/20265)
+
+- Payment Entry should not be allowed against blocked Purchase Invoice until release date [#20270](https://github.com/frappe/erpnext/pull/20270) 
+
+- Incorrect number of GL Entries error in stock entry due to precision issue [#20297](https://github.com/frappe/erpnext/pull/20297)
+
+- Wrong outstanding invoices fetched against employee [#20373](https://github.com/frappe/erpnext/pull/20373) 
+
+- Finance book filtering logic in financial statements and other accounting reports [#20411](https://github.com/frappe/erpnext/pull/20410)
+
+- Additional discount was not appling on sales invoice created by subscription [#20432](https://github.com/frappe/erpnext/pull/20432)
+
+- Deprecated fetching item price based on minimum qty [#20346](https://github.com/frappe/erpnext/pull/20346)
+
+- Calculation of carry forwarded leaves [#20341](https://github.com/frappe/erpnext/pull/20341)
+
+- Quotation status will be expired based on validity only if it is not Ordered or Lost [#20365](https://github.com/frappe/erpnext/pull/20354) 
+
+- Delete auto created batch on cancellation of Purchase Receipt / Stock Entry [#20392](https://github.com/frappe/erpnext/pull/20392) 
+
+- Show product bundle item's availability on website based on availability of all bundled items [#20384](https://github.com/frappe/erpnext/pull/20384) 
+
+- Show relevant suppliers on "Create Purchase Order" popup in Material Request [#20232](https://github.com/frappe/erpnext/pull/20232)
+
+- Cannot complete task if dependent task are not completed / cancelled [#20434](https://github.com/frappe/erpnext/pull/20434)
+
+- Show numeric values in item configurator [#20430](https://github.com/frappe/erpnext/pull/20430)
+
+- Filter serial no based on batch no [#20566](https://github.com/frappe/erpnext/pull/20566) 
+
+- Pricing rule was not working on item groups [#20546](https://github.com/frappe/erpnext/pull/20546) 
+
+- Disabled quick entry for doctypes with tree view [#20453](https://github.com/frappe/erpnext/pull/20453)
+
+### Optimisation
+- Handling of large number of serial no creation via Purchase Receipt / Stock Entry (10 times faster than before!) [#20540](https://github.com/frappe/erpnext/pull/20540) 
+
+- Update outstanding amount on Sales Invoice on submission of invoice / payment [#20557](https://github.com/frappe/erpnext/pull/20557)
\ No newline at end of file