diff --git a/erpnext/patches/v14_0/migrate_gl_to_payment_ledger.py b/erpnext/patches/v14_0/migrate_gl_to_payment_ledger.py
new file mode 100644
index 00000000000..c2267aa9af9
--- /dev/null
+++ b/erpnext/patches/v14_0/migrate_gl_to_payment_ledger.py
@@ -0,0 +1,38 @@
+import frappe
+from frappe import qb
+
+from erpnext.accounts.doctype.accounting_dimension.accounting_dimension import (
+	get_dimensions,
+	make_dimension_in_accounting_doctypes,
+)
+from erpnext.accounts.utils import create_payment_ledger_entry
+
+
+def create_accounting_dimension_fields():
+	dimensions_and_defaults = get_dimensions()
+	if dimensions_and_defaults:
+		for dimension in dimensions_and_defaults[0]:
+			make_dimension_in_accounting_doctypes(dimension, ["Payment Ledger Entry"])
+
+
+def execute():
+	# create accounting dimension fields in Payment Ledger
+	create_accounting_dimension_fields()
+
+	gl = qb.DocType("GL Entry")
+	accounts = frappe.db.get_list(
+		"Account", "name", filters={"account_type": ["in", ["Receivable", "Payable"]]}, as_list=True
+	)
+	gl_entries = []
+	if accounts:
+		# get all gl entries on receivable/payable accounts
+		gl_entries = (
+			qb.from_(gl)
+			.select("*")
+			.where(gl.account.isin(accounts))
+			.where(gl.is_cancelled == 0)
+			.run(as_dict=True)
+		)
+		if gl_entries:
+			# create payment ledger entries for the accounts receivable/payable
+			create_payment_ledger_entry(gl_entries, 0)