diff --git a/erpnext/controllers/stock_controller.py b/erpnext/controllers/stock_controller.py
index b7ff5fbfbd82f3c144ee8361472a49a232d8c851..1c98618cae5828204c0396bd35f817c1e8ffe300 100644
--- a/erpnext/controllers/stock_controller.py
+++ b/erpnext/controllers/stock_controller.py
@@ -65,6 +65,18 @@ class StockController(AccountsController):
 		self.validate_internal_transfer()
 		self.validate_putaway_capacity()
 
+	def validate_items_exist(self):
+		if not self.get("items"):
+			return
+
+		items = [d.item_code for d in self.get("items")]
+
+		exists_items = frappe.get_all("Item", filters={"name": ("in", items)}, pluck="name")
+		non_exists_items = set(items) - set(exists_items)
+
+		if non_exists_items:
+			frappe.throw(_("Items {0} do not exist in the Item master.").format(", ".join(non_exists_items)))
+
 	def validate_duplicate_serial_and_batch_bundle(self, table_name):
 		if not self.get(table_name):
 			return
diff --git a/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py b/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
index fb2563a553608b82841f805f15142053e29d4165..3d6abecee3e3d959f4525e01c0e5252dbe6a44c9 100644
--- a/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
+++ b/erpnext/stock/doctype/stock_reconciliation/stock_reconciliation.py
@@ -34,6 +34,7 @@ class StockReconciliation(StockController):
 		self.head_row = ["Item Code", "Warehouse", "Quantity", "Valuation Rate"]
 
 	def validate(self):
+		self.validate_items_exist()
 		if not self.expense_account:
 			self.expense_account = frappe.get_cached_value(
 				"Company", self.company, "stock_adjustment_account"
@@ -133,6 +134,9 @@ class StockReconciliation(StockController):
 	def set_current_serial_and_batch_bundle(self, voucher_detail_no=None, save=False) -> None:
 		"""Set Serial and Batch Bundle for each item"""
 		for item in self.items:
+			if not frappe.db.exists("Item", item.item_code):
+				frappe.throw(_("Item {0} does not exist").format(item.item_code))
+
 			if not item.reconcile_all_serial_batch and item.serial_and_batch_bundle:
 				bundle = self.get_bundle_for_specific_serial_batch(item)
 				item.current_serial_and_batch_bundle = bundle.name
@@ -328,6 +332,9 @@ class StockReconciliation(StockController):
 
 	def set_new_serial_and_batch_bundle(self):
 		for item in self.items:
+			if not item.item_code:
+				continue
+
 			if item.use_serial_batch_fields:
 				continue