diff --git a/erpnext/setup/doctype/company/company.json b/erpnext/setup/doctype/company/company.json
index 08d5eb5ac46..7d74eb1192e 100644
--- a/erpnext/setup/doctype/company/company.json
+++ b/erpnext/setup/doctype/company/company.json
@@ -738,7 +738,7 @@
    "fieldname": "auto_err_frequency",
    "fieldtype": "Select",
    "label": "Frequency",
-   "options": "Daily\nWeekly"
+   "options": "Daily\nWeekly\nMonthly"
   },
   {
    "default": "0",
@@ -792,7 +792,7 @@
  "image_field": "company_logo",
  "is_tree": 1,
  "links": [],
- "modified": "2024-06-21 17:46:25.567565",
+ "modified": "2024-07-24 18:17:56.413971",
  "modified_by": "Administrator",
  "module": "Setup",
  "name": "Company",
diff --git a/erpnext/setup/doctype/company/company.py b/erpnext/setup/doctype/company/company.py
index b61c1b840c3..f5460c85a50 100644
--- a/erpnext/setup/doctype/company/company.py
+++ b/erpnext/setup/doctype/company/company.py
@@ -31,7 +31,7 @@ class Company(NestedSet):
 		accumulated_depreciation_account: DF.Link | None
 		allow_account_creation_against_child_company: DF.Check
 		asset_received_but_not_billed: DF.Link | None
-		auto_err_frequency: DF.Literal["Daily", "Weekly"]
+		auto_err_frequency: DF.Literal["Daily", "Weekly", "Monthly"]
 		auto_exchange_rate_revaluation: DF.Check
 		book_advance_payments_in_separate_party_account: DF.Check
 		capital_work_in_progress_account: DF.Link | None