diff --git a/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py b/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
index 1df367905a0..90a30ef62e6 100644
--- a/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
+++ b/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
@@ -526,7 +526,7 @@ class StockReconciliation(StockController):
 
 			float_precision = frappe.db.get_default("float_precision") or 3
 			item_dict["rate"] = flt(item_dict.get("rate"), float_precision)
-			item.valuation_rate = flt(item.valuation_rate, float_precision)
+			item.valuation_rate = flt(item.valuation_rate, float_precision) if item.valuation_rate else None
 			if (
 				(item.qty is None or item.qty == item_dict.get("qty"))
 				and (item.valuation_rate is None or item.valuation_rate == item_dict.get("rate"))