diff --git a/erpnext/controllers/stock_controller.py b/erpnext/controllers/stock_controller.py
index befde71775a7..4f0c8a9a54f0 100644
--- a/erpnext/controllers/stock_controller.py
+++ b/erpnext/controllers/stock_controller.py
@@ -201,6 +201,12 @@ def get_gl_entries(
 					warehouse_asset_account = warehouse_account[item_row.get("warehouse")]["account"]
 
 				expense_account = frappe.get_cached_value("Company", self.company, "default_expense_account")
+				if not expense_account:
+					frappe.throw(
+						_(
+							"Please set default cost of goods sold account in company {0} for booking rounding gain and loss during stock transfer"
+						).format(frappe.bold(self.company))
+					)
 
 				gl_list.append(
 					self.get_gl_dict(