diff --git a/erpnext/accounts/doctype/payment_entry/payment_entry.js b/erpnext/accounts/doctype/payment_entry/payment_entry.js
index 3d5d030a9ee..137dedf80ec 100644
--- a/erpnext/accounts/doctype/payment_entry/payment_entry.js
+++ b/erpnext/accounts/doctype/payment_entry/payment_entry.js
@@ -23,6 +23,11 @@ frappe.ui.form.on('Payment Entry', {
 
 			var account_types = ["Pay", "Internal Transfer"].includes(frm.doc.payment_type) ?
 				["Bank", "Cash"] : [frappe.boot.party_account_types[frm.doc.party_type]];
+
+			if (frm.doc.party_type == "Shareholder") {
+				account_types.push("Equity");
+			}
+
 			return {
 				filters: {
 					"account_type": ["in", account_types],
@@ -77,6 +82,9 @@ frappe.ui.form.on('Payment Entry', {
 
 			var account_types = ["Receive", "Internal Transfer"].includes(frm.doc.payment_type) ?
 				["Bank", "Cash"] : [frappe.boot.party_account_types[frm.doc.party_type]];
+			if (frm.doc.party_type == "Shareholder") {
+				account_types.push("Equity");
+			}
 			return {
 				filters: {
 					"account_type": ["in", account_types],
@@ -326,6 +334,12 @@ frappe.ui.form.on('Payment Entry', {
 				return {
 					query: "erpnext.controllers.queries.customer_query"
 				}
+			} else if (frm.doc.party_type == "Shareholder") {
+				return {
+					filters: {
+						company: frm.doc.company,
+					},
+				};
 			}
 		});