diff --git a/erpnext/controllers/accounts_controller.py b/erpnext/controllers/accounts_controller.py
index 4392a0a6d39..02e5411630f 100644
--- a/erpnext/controllers/accounts_controller.py
+++ b/erpnext/controllers/accounts_controller.py
@@ -119,6 +119,13 @@ class AccountsController(TransactionBase):
             validate_due_date(self.posting_date, self.due_date, "Supplier", self.supplier, self.company)
 
     def set_price_list_currency(self, buying_or_selling):
+        # manqala 19/09/2016: for PO and SO the translation date for exchange rate conversions is transaction_date. For everything else it is posting_date
+        if self.meta.get_field("posting_date"):
+            translation_date = self.posting_date
+        else:
+            translation_date = self.transaction_date
+        # end manqala
+            
         if self.meta.get_field("currency"):
             # price list part
             fieldname = "selling_price_list" if buying_or_selling.lower() == "selling" \
@@ -133,7 +140,7 @@ class AccountsController(TransactionBase):
                 elif not self.plc_conversion_rate:
                     # manqala 19/09/16: using the transaction date on the PO or SO as the basis for getting the exchange rate
                     self.plc_conversion_rate = get_exchange_rate(
-                        self.transaction_date, self.price_list_currency, self.company_currency)
+                        translation_date, self.price_list_currency, self.company_currency)
 
             # currency
             if not self.currency:
@@ -142,9 +149,10 @@ class AccountsController(TransactionBase):
             elif self.currency == self.company_currency:
                 self.conversion_rate = 1.0
             elif not self.conversion_rate:
-                # cksgb 19/09/2016: added transaction date to arguments for get_exchange_rate
-                self.conversion_rate = get_exchange_rate(self.transaction_date, self.currency,
+                # manqala 19/09/2016: added transaction date to arguments for get_exchange_rate
+                self.conversion_rate = get_exchange_rate(translation_date, self.currency,
                     self.company_currency)
+                # end manqala
 
     def set_missing_item_details(self):
         """set missing item values"""
diff --git a/erpnext/public/js/controllers/transaction.js b/erpnext/public/js/controllers/transaction.js
index 274e295bbbe..34e0de19feb 100644
--- a/erpnext/public/js/controllers/transaction.js
+++ b/erpnext/public/js/controllers/transaction.js
@@ -417,15 +417,9 @@ erpnext.TransactionController = erpnext.taxes_and_totals.extend({
 	},
 
 	currency: function() {
-		/* cksgb 19/09/2016: We need to detect if this transaction is a PO/SO. 
-		If so, use transaction_date. 
-		If not, use posting_date as we assume that any other document type is an accounting document. */
-		
-		if (this.frm.doc.doctype == "Purchase Order" || this.frm.doc.doctype == "Sales Order"){
-			lookup_date = this.frm.doc.transaction_date;
-		}else{
-			lookup_date = this.frm.doc.posting_date;
-		}
+		/* manqala 19/09/2016: let the translation date be whichever of the transaction_date or posting_date is available */
+		translation_date = this.frm.doc.transaction_date || this.frm.doc.posting_date;
+		/* end manqala */
 		
 		var me = this;
 		this.set_dynamic_labels();
@@ -434,7 +428,7 @@ erpnext.TransactionController = erpnext.taxes_and_totals.extend({
 		// Added `ignore_pricing_rule` to determine if document is loading after mapping from another doc
 		if(this.frm.doc.currency && this.frm.doc.currency !== company_currency
 				&& !this.frm.doc.ignore_pricing_rule) {
-			this.get_exchange_rate(lookup_date, this.frm.doc.currency, company_currency,
+			this.get_exchange_rate(translation_date, this.frm.doc.currency, company_currency,
 				function(exchange_rate) {
 					me.frm.set_value("conversion_rate", exchange_rate);
 				});
@@ -462,11 +456,11 @@ erpnext.TransactionController = erpnext.taxes_and_totals.extend({
 		}
 	},
 
-	get_exchange_rate: function(posting_date, from_currency, to_currency, callback) {
+	get_exchange_rate: function(translation_date, from_currency, to_currency, callback) {
 		return frappe.call({
 			method: "erpnext.setup.utils.get_exchange_rate",
 			args: {
-				posting_date: posting_date,
+				translation_date: translation_date,
 				from_currency: from_currency,
 				to_currency: to_currency
 			},
diff --git a/erpnext/setup/utils.py b/erpnext/setup/utils.py
index e18a9931a23..0733b7c419c 100644
--- a/erpnext/setup/utils.py
+++ b/erpnext/setup/utils.py
@@ -65,16 +65,16 @@ def before_tests():
     frappe.db.commit()
 
 @frappe.whitelist()
-def get_exchange_rate(posting_date, from_currency, to_currency):
-    if not (posting_date and from_currency and to_currency):
-        # cksgb 19/09/2016: Should this be an empty return or should it throw and exception?
+def get_exchange_rate(translation_date, from_currency, to_currency):
+    if not (translation_date and from_currency and to_currency):
+        # manqala 19/09/2016: Should this be an empty return or should it throw and exception?
         return
     
     if from_currency == to_currency:
         return 1
     
     # cksgb 19/09/2016: get all entries in Currency Exchange with from_currency and to_currency. Order by date desc. Top one is the required exchange rate
-    entries = frappe.get_all("Currency Exchange", fields = ["*"], filters=[["date", "<=", get_datetime_str(posting_date)], ["from_currency", "=", from_currency], ["to_currency", "=", to_currency]], order_by="date desc")
+    entries = frappe.get_all("Currency Exchange", fields = ["*"], filters=[["date", "<=", get_datetime_str(translation_date)], ["from_currency", "=", from_currency], ["to_currency", "=", to_currency]], order_by="date desc")
     if entries:
         return flt(entries[0].exchange_rate)
 
@@ -96,5 +96,5 @@ def get_exchange_rate(posting_date, from_currency, to_currency):
 
         return flt(value)
     except:
-        frappe.msgprint(_("Unable to find exchange rate for {0} to {1} for key date {2}").format(from_currency, to_currency, posting_date))
+        frappe.msgprint(_("Unable to find exchange rate for {0} to {1} for key date {2}").format(from_currency, to_currency, translation_date))
         return 0.0
\ No newline at end of file