diff --git a/InvenTree/company/models.py b/InvenTree/company/models.py
index 58cfbe7011..3786531311 100644
--- a/InvenTree/company/models.py
+++ b/InvenTree/company/models.py
@@ -31,6 +31,7 @@ import InvenTree.validators
 
 import common.models
 import common.settings
+from common.settings import currency_code_default
 
 
 def rename_company_image(instance, filename):
@@ -149,6 +150,7 @@ class Company(models.Model):
         max_length=3,
         verbose_name=_('Currency'),
         blank=True,
+        default=currency_code_default,
         help_text=_('Default currency used for this company'),
         validators=[InvenTree.validators.validate_currency_code],
     )
diff --git a/InvenTree/company/serializers.py b/InvenTree/company/serializers.py
index 8c89df2967..5d2459eb34 100644
--- a/InvenTree/company/serializers.py
+++ b/InvenTree/company/serializers.py
@@ -66,7 +66,10 @@ class CompanySerializer(InvenTreeModelSerializer):
 
     currency = serializers.ChoiceField(
         choices=djmoney.settings.CURRENCY_CHOICES,
-        default=currency_code_default,
+        initial=currency_code_default,
+        help_text=_('Default currency used for this supplier'),
+        label=_('Currency Code'),
+        required=True,
     )
 
     class Meta: