diff --git a/erpnext/accounts/doctype/payment_entry/payment_entry.js b/erpnext/accounts/doctype/payment_entry/payment_entry.js
index 939cd0d113d..a09edc69469 100644
--- a/erpnext/accounts/doctype/payment_entry/payment_entry.js
+++ b/erpnext/accounts/doctype/payment_entry/payment_entry.js
@@ -1277,15 +1277,14 @@ frappe.ui.form.on("Payment Entry", {
 		let row = (frm.doc.deductions || []).find((t) => t.is_exchange_gain_loss);
 
 		if (!row) {
-			const response = await get_company_defaults(frm.doc.company);
-
+			const company_defaults = frappe.get_doc(":Company", frm.doc.company);
 			const account =
-				response.message?.[account_fieldname] ||
+				company_defaults?.[account_fieldname] ||
 				(await prompt_for_missing_account(frm, account_fieldname));
 
 			row = frm.add_child("deductions");
 			row.account = account;
-			row.cost_center = response.message?.cost_center;
+			row.cost_center = company_defaults?.cost_center;
 			row.is_exchange_gain_loss = 1;
 		}
 
diff --git a/erpnext/startup/boot.py b/erpnext/startup/boot.py
index 05d8cf1f2f7..08fc6071c72 100644
--- a/erpnext/startup/boot.py
+++ b/erpnext/startup/boot.py
@@ -49,7 +49,7 @@ def boot_session(bootinfo):
 
 		bootinfo.docs += frappe.db.sql(
 			"""select name, default_currency, cost_center, default_selling_terms, default_buying_terms,
-			default_letter_head, default_bank_account, enable_perpetual_inventory, country from `tabCompany`""",
+			default_letter_head, default_bank_account, enable_perpetual_inventory, country, exchange_gain_loss_account from `tabCompany`""",
 			as_dict=1,
 			update={"doctype": ":Company"},
 		)