diff --git a/erpnext/__init__.py b/erpnext/__init__.py
index bbfb0f81fba..ccb71bcdce2 100644
--- a/erpnext/__init__.py
+++ b/erpnext/__init__.py
@@ -4,7 +4,7 @@ import inspect
 import frappe
 from erpnext.hooks import regional_overrides
 
-__version__ = '8.5.3'
+__version__ = '8.5.4'
 
 def get_default_company(user=None):
 	'''Get default company for user'''
diff --git a/erpnext/public/js/setup_wizard.js b/erpnext/public/js/setup_wizard.js
index cb48c2523b5..29ef12ce3dc 100644
--- a/erpnext/public/js/setup_wizard.js
+++ b/erpnext/public/js/setup_wizard.js
@@ -236,7 +236,7 @@ var erpnext_slides = [
 		help: __("List your tax heads (e.g. VAT, Customs etc; they should have unique names) and their standard rates. This will create a standard template, which you can edit and add more later."),
 		add_more: 1,
 		max_count: 3,
-		mandatory_entry: 1,
+		mandatory_entry: 0,
 		fields: [
 			{fieldtype:"Section Break"},
 			{fieldtype:"Data", fieldname:"tax", label:__("Tax"),
@@ -308,8 +308,10 @@ var erpnext_slides = [
 				options:[__("Unit"), __("Nos"), __("Box"), __("Pair"), __("Kg"), __("Set"),
 					__("Hour"), __("Minute"), __("Litre"), __("Meter"), __("Gram")],
 				"default": __("Unit"), static: 1},
-			{fieldtype: "Check", fieldname: "is_sales_item", label:__("We sell this Item"), default: 1, static: 1},
-			{fieldtype: "Check", fieldname: "is_purchase_item", label:__("We buy this Item"), static: 1},
+			{fieldtype: "Check", fieldname: "is_sales_item",
+				label:__("We sell this Item"), default: 1, static: 1},
+			{fieldtype: "Check", fieldname: "is_purchase_item",
+				label:__("We buy this Item"), default: 1, static: 1},
 			{fieldtype:"Column Break"},
 			{fieldtype:"Currency", fieldname:"item_price", label:__("Rate"), static: 1},
 			{fieldtype:"Attach Image", fieldname:"item_img", label:__("Attach Image"), is_private: 0, static: 1},
diff --git a/erpnext/setup/setup_wizard/setup_wizard.py b/erpnext/setup/setup_wizard/setup_wizard.py
index 8b218dd5a2b..4dec3d75f79 100644
--- a/erpnext/setup/setup_wizard/setup_wizard.py
+++ b/erpnext/setup/setup_wizard/setup_wizard.py
@@ -287,12 +287,9 @@ def make_tax_account_and_template(company, account_name, tax_rate, template_name
 
 		if accounts:
 			make_sales_and_purchase_tax_templates(accounts, template_name)
-	except frappe.NameError, e:
-		if e.args[2][0]==1062:
-			pass
-		else:
-			raise
-	except RootNotEditable, e:
+	except frappe.NameError:
+		pass
+	except RootNotEditable:
 		pass
 
 def get_tax_account_group(company):