diff --git a/erpnext/accounts/doctype/payment_entry/payment_entry.js b/erpnext/accounts/doctype/payment_entry/payment_entry.js
index 56751ca425e..5c9c7b54d6f 100644
--- a/erpnext/accounts/doctype/payment_entry/payment_entry.js
+++ b/erpnext/accounts/doctype/payment_entry/payment_entry.js
@@ -374,7 +374,6 @@ frappe.ui.form.on("Payment Entry", {
 		frm.set_df_property("total_allocated_amount", "options", currency_field);
 		frm.set_df_property("unallocated_amount", "options", currency_field);
 		frm.set_df_property("total_taxes_and_charges", "options", currency_field);
-		frm.set_df_property("party_balance", "options", currency_field);
 
 		frm.set_currency_labels(
 			["total_amount", "outstanding_amount", "allocated_amount"],
@@ -422,15 +421,7 @@ frappe.ui.form.on("Payment Entry", {
 
 		if (frm.doc.payment_type == "Internal Transfer") {
 			$.each(
-				[
-					"party",
-					"party_type",
-					"party_balance",
-					"paid_from",
-					"paid_to",
-					"references",
-					"total_allocated_amount",
-				],
+				["party", "party_type", "paid_from", "paid_to", "references", "total_allocated_amount"],
 				function (i, field) {
 					frm.set_value(field, null);
 				}
@@ -478,7 +469,6 @@ frappe.ui.form.on("Payment Entry", {
 			$.each(
 				[
 					"party",
-					"party_balance",
 					"paid_from",
 					"paid_to",
 					"paid_from_account_currency",
@@ -539,7 +529,6 @@ frappe.ui.form.on("Payment Entry", {
 									frm.set_value("paid_to_account_balance", r.message.account_balance);
 								}
 							},
-							() => frm.set_value("party_balance", r.message.party_balance),
 							() => frm.set_value("party_name", r.message.party_name),
 							() => frm.clear_table("references"),
 							() => frm.events.hide_unhide_fields(frm),
@@ -1692,7 +1681,6 @@ frappe.ui.form.on("Payment Entry", {
 									r.message.paid_from_account_balance
 								);
 								frm.set_value("paid_to_account_balance", r.message.paid_to_account_balance);
-								frm.set_value("party_balance", r.message.party_balance);
 							},
 						]);
 					}
diff --git a/erpnext/accounts/doctype/payment_entry/payment_entry.json b/erpnext/accounts/doctype/payment_entry/payment_entry.json
index 294c7feef57..042cae5196c 100644
--- a/erpnext/accounts/doctype/payment_entry/payment_entry.json
+++ b/erpnext/accounts/doctype/payment_entry/payment_entry.json
@@ -28,7 +28,6 @@
   "contact_person",
   "contact_email",
   "payment_accounts_section",
-  "party_balance",
   "paid_from",
   "paid_from_account_type",
   "paid_from_account_currency",
@@ -223,16 +222,6 @@
    "fieldtype": "Section Break",
    "label": "Accounts"
   },
-  {
-   "allow_on_submit": 1,
-   "depends_on": "party",
-   "fieldname": "party_balance",
-   "fieldtype": "Currency",
-   "label": "Party Balance",
-   "no_copy": 1,
-   "print_hide": 1,
-   "read_only": 1
-  },
   {
    "bold": 1,
    "depends_on": "eval:(in_list([\"Internal Transfer\", \"Pay\"], doc.payment_type) || doc.party)",
@@ -810,7 +799,7 @@
    "table_fieldname": "payment_entries"
   }
  ],
- "modified": "2025-01-31 17:27:28.555246",
+ "modified": "2025-01-31 11:05:51.703592",
  "modified_by": "Administrator",
  "module": "Accounts",
  "name": "Payment Entry",
@@ -856,4 +845,4 @@
  "states": [],
  "title_field": "title",
  "track_changes": 1
-}
\ No newline at end of file
+}
diff --git a/erpnext/accounts/doctype/payment_entry/payment_entry.py b/erpnext/accounts/doctype/payment_entry/payment_entry.py
index 5f56743167d..1a159102f20 100644
--- a/erpnext/accounts/doctype/payment_entry/payment_entry.py
+++ b/erpnext/accounts/doctype/payment_entry/payment_entry.py
@@ -116,7 +116,6 @@ class PaymentEntry(AccountsController):
 		paid_to_account_currency: DF.Link
 		paid_to_account_type: DF.Data | None
 		party: DF.DynamicLink | None
-		party_balance: DF.Currency
 		party_bank_account: DF.Link | None
 		party_name: DF.Data | None
 		party_type: DF.Link | None
@@ -506,7 +505,6 @@ class PaymentEntry(AccountsController):
 		if self.payment_type == "Internal Transfer":
 			for field in (
 				"party",
-				"party_balance",
 				"total_allocated_amount",
 				"base_total_allocated_amount",
 				"unallocated_amount",
@@ -534,10 +532,6 @@ class PaymentEntry(AccountsController):
 				)
 			else:
 				complete_contact_details(self)
-			if not self.party_balance:
-				self.party_balance = get_balance_on(
-					party_type=self.party_type, party=self.party, date=self.posting_date, company=self.company
-				)
 
 			if not self.party_account:
 				party_account = get_party_account(self.party_type, self.party, self.company)
@@ -2721,9 +2715,7 @@ def get_party_details(company, party_type, party, date, cost_center=None):
 	account_balance = get_balance_on(party_account, date, cost_center=cost_center)
 	_party_name = "title" if party_type == "Shareholder" else party_type.lower() + "_name"
 	party_name = frappe.db.get_value(party_type, party, _party_name)
-	party_balance = get_balance_on(
-		party_type=party_type, party=party, company=company, cost_center=cost_center
-	)
+
 	if party_type in ["Customer", "Supplier"]:
 		party_bank_account = get_party_bank_account(party_type, party)
 		bank_account = get_default_company_bank_account(company, party_type, party)
@@ -2732,7 +2724,6 @@ def get_party_details(company, party_type, party, date, cost_center=None):
 		"party_account": party_account,
 		"party_name": party_name,
 		"party_account_currency": account_currency,
-		"party_balance": party_balance,
 		"account_balance": account_balance,
 		"party_bank_account": party_bank_account,
 		"bank_account": bank_account,
@@ -3564,7 +3555,6 @@ def get_party_and_account_balance(
 ):
 	return frappe._dict(
 		{
-			"party_balance": get_balance_on(party_type=ptype, party=pty, cost_center=cost_center),
 			"paid_from_account_balance": get_balance_on(paid_from, date, cost_center=cost_center),
 			"paid_to_account_balance": get_balance_on(paid_to, date=date, cost_center=cost_center),
 		}