diff --git a/erpnext/__init__.py b/erpnext/__init__.py
index 699dcf3996d..24c5bc27f70 100644
--- a/erpnext/__init__.py
+++ b/erpnext/__init__.py
@@ -5,7 +5,7 @@ import frappe
 from erpnext.hooks import regional_overrides
 from frappe.utils import getdate
 
-__version__ = '10.1.61'
+__version__ = '10.1.62'
 
 def get_default_company(user=None):
 	'''Get default company for user'''
diff --git a/erpnext/accounts/report/financial_statements.py b/erpnext/accounts/report/financial_statements.py
index 74ca2585fe1..937911f4836 100644
--- a/erpnext/accounts/report/financial_statements.py
+++ b/erpnext/accounts/report/financial_statements.py
@@ -339,19 +339,20 @@ def set_gl_entries_by_account(
 
 	additional_conditions = get_additional_conditions(from_date, ignore_closing_entries, filters)
 
+	accounts = frappe.db.sql_list("""select name from `tabAccount`
+		where lft >= %s and rgt <= %s""", (root_lft, root_rgt))
+	additional_conditions += " and account in ('{}')"\
+		.format("', '".join([frappe.db.escape(d) for d in accounts]))
+
 	gl_entries = frappe.db.sql("""select posting_date, account, debit, credit, is_opening, fiscal_year, debit_in_account_currency, credit_in_account_currency, account_currency from `tabGL Entry`
 		where company=%(company)s
 		{additional_conditions}
 		and posting_date <= %(to_date)s
-		and account in (select name from `tabAccount`
-			where lft >= %(lft)s and rgt <= %(rgt)s)
 		order by account, posting_date""".format(additional_conditions=additional_conditions),
 		{
 			"company": company,
 			"from_date": from_date,
 			"to_date": to_date,
-			"lft": root_lft,
-			"rgt": root_rgt,
 			"cost_center": filters.cost_center,
 			"project": filters.project
 		},