diff --git a/packages/builder/src/builderStore/dataBinding.js b/packages/builder/src/builderStore/dataBinding.js
index 8dff56dd6b..8cbc629291 100644
--- a/packages/builder/src/builderStore/dataBinding.js
+++ b/packages/builder/src/builderStore/dataBinding.js
@@ -654,7 +654,7 @@ export const getSchemaForDatasource = (asset, datasource, options) => {
  * Builds a form schema given a form component.
  * A form schema is a schema of all the fields nested anywhere within a form.
  */
-const buildFormSchema = component => {
+export const buildFormSchema = component => {
   let schema = {}
   if (!component) {
     return schema
diff --git a/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/actions/UpdateFieldValue.svelte b/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/actions/UpdateFieldValue.svelte
new file mode 100644
index 0000000000..cddf3e9fda
--- /dev/null
+++ b/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/actions/UpdateFieldValue.svelte
@@ -0,0 +1,78 @@
+<script>
+  import { Select, Label, Combobox } from "@budibase/bbui"
+  import { onMount } from "svelte"
+  import DrawerBindableInput from "components/common/bindings/DrawerBindableInput.svelte"
+  import { currentAsset, store } from "builderStore"
+  import {
+    getActionProviderComponents,
+    buildFormSchema,
+  } from "builderStore/dataBinding"
+  import { findComponent } from "builderStore/componentUtils"
+
+  export let parameters
+  export let bindings = []
+
+  const typeOptions = [
+    {
+      label: "Set value",
+      value: "set",
+    },
+    {
+      label: "Reset to default value",
+      value: "reset",
+    },
+  ]
+
+  $: formComponent = findComponent($currentAsset.props, parameters.componentId)
+  $: formSchema = buildFormSchema(formComponent)
+  $: fieldOptions = Object.keys(formSchema || {})
+  $: actionProviders = getActionProviderComponents(
+    $currentAsset,
+    $store.selectedComponentId,
+    "ValidateForm"
+  )
+
+  onMount(() => {
+    if (!parameters.type) {
+      parameters.type = "set"
+    }
+  })
+</script>
+
+<div class="root">
+  <Label small>Form</Label>
+  <Select
+    bind:value={parameters.componentId}
+    options={actionProviders}
+    getOptionLabel={x => x._instanceName}
+    getOptionValue={x => x._id}
+  />
+  <Label small>Type</Label>
+  <Select
+    placeholder={null}
+    bind:value={parameters.type}
+    options={typeOptions}
+  />
+  <Label small>Field</Label>
+  <Combobox bind:value={parameters.field} options={fieldOptions} />
+  {#if parameters.type === "set"}
+    <Label small>Value</Label>
+    <DrawerBindableInput
+      {bindings}
+      value={parameters.value}
+      on:change={e => (parameters.value = e.detail)}
+    />
+  {/if}
+</div>
+
+<style>
+  .root {
+    display: grid;
+    column-gap: var(--spacing-l);
+    row-gap: var(--spacing-s);
+    grid-template-columns: 60px 1fr;
+    align-items: center;
+    max-width: 400px;
+    margin: 0 auto;
+  }
+</style>
diff --git a/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/actions/index.js b/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/actions/index.js
index 2306d4a548..8f0baf08be 100644
--- a/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/actions/index.js
+++ b/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/actions/index.js
@@ -14,3 +14,4 @@ export { default as DuplicateRow } from "./DuplicateRow.svelte"
 export { default as S3Upload } from "./S3Upload.svelte"
 export { default as ExportData } from "./ExportData.svelte"
 export { default as ContinueIf } from "./ContinueIf.svelte"
+export { default as UpdateFieldValue } from "./UpdateFieldValue.svelte"
diff --git a/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/manifest.json b/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/manifest.json
index 80464b281f..cf18fee3a6 100644
--- a/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/manifest.json
+++ b/packages/builder/src/components/design/PropertiesPanel/PropertyControls/ButtonActionEditor/manifest.json
@@ -42,25 +42,29 @@
       "name": "Trigger Automation",
       "component": "TriggerAutomation"
     },
+    {
+      "name": "Update Field Value",
+      "component": "UpdateFieldValue"
+    },
     {
       "name": "Validate Form",
       "component": "ValidateForm"
     },
     {
-      "name": "Log Out",
-      "component": "LogOut"
+      "name": "Change Form Step",
+      "component": "ChangeFormStep"
     },
     {
       "name": "Clear Form",
       "component": "ClearForm"
     },
     {
-      "name": "Close Screen Modal",
-      "component": "CloseScreenModal"
+      "name": "Log Out",
+      "component": "LogOut"
     },
     {
-      "name": "Change Form Step",
-      "component": "ChangeFormStep"
+      "name": "Close Screen Modal",
+      "component": "CloseScreenModal"
     },
     {
       "name": "Refresh Data Provider",
diff --git a/packages/client/manifest.json b/packages/client/manifest.json
index 4c3c0faf1f..9df9a30d1c 100644
--- a/packages/client/manifest.json
+++ b/packages/client/manifest.json
@@ -1834,7 +1834,12 @@
     "icon": "Form",
     "hasChildren": true,
     "illegalChildren": ["section", "form"],
-    "actions": ["ValidateForm", "ClearForm", "ChangeFormStep"],
+    "actions": [
+      "ValidateForm",
+      "ClearForm",
+      "ChangeFormStep",
+      "UpdateFieldValue"
+    ],
     "styles": ["size"],
     "settings": [
       {
@@ -1975,6 +1980,17 @@
         "label": "Default value",
         "key": "defaultValue"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "boolean",
         "label": "Disabled",
@@ -2049,6 +2065,17 @@
         "label": "Default value",
         "key": "defaultValue"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "boolean",
         "label": "Disabled",
@@ -2089,6 +2116,17 @@
         "label": "Default value",
         "key": "defaultValue"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "boolean",
         "label": "Disabled",
@@ -2125,6 +2163,17 @@
         "key": "placeholder",
         "placeholder": "Choose an option"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "select",
         "label": "Type",
@@ -2274,6 +2323,17 @@
         "label": "Default value",
         "key": "defaultValue"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "boolean",
         "label": "Autocomplete",
@@ -2399,6 +2459,17 @@
         "label": "Default value",
         "key": "defaultValue"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "boolean",
         "label": "Disabled",
@@ -2439,6 +2510,17 @@
         "label": "Default value",
         "key": "defaultValue"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "select",
         "label": "Formatting",
@@ -2512,6 +2594,17 @@
         "label": "Default value",
         "key": "defaultValue"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "boolean",
         "label": "Disabled",
@@ -2657,6 +2750,17 @@
         "label": "Extensions",
         "key": "extensions"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "boolean",
         "label": "Disabled",
@@ -2697,6 +2801,17 @@
         "label": "Default value",
         "key": "defaultValue"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "boolean",
         "label": "Autocomplete",
@@ -2742,6 +2857,17 @@
         "label": "Default value",
         "key": "defaultValue"
       },
+      {
+        "type": "event",
+        "label": "On change",
+        "key": "onChange",
+        "context": [
+          {
+            "label": "Field Value",
+            "key": "value"
+          }
+        ]
+      },
       {
         "type": "boolean",
         "label": "Disabled",
diff --git a/packages/client/src/components/app/forms/InnerForm.svelte b/packages/client/src/components/app/forms/InnerForm.svelte
index ae6ae3ebcc..99dcbf4d5e 100644
--- a/packages/client/src/components/app/forms/InnerForm.svelte
+++ b/packages/client/src/components/app/forms/InnerForm.svelte
@@ -219,10 +219,10 @@
       })
       return valid
     },
-    clear: () => {
-      // Clear the form by clearing each individual field
+    reset: () => {
+      // Reset the form by resetting each individual field
       fields.forEach(field => {
-        get(field).fieldApi.clearValue()
+        get(field).fieldApi.reset()
       })
     },
     changeStep: ({ type, number }) => {
@@ -241,6 +241,22 @@
         currentStep.set(step)
       }
     },
+    setFieldValue: (fieldName, value) => {
+      const field = getField(fieldName)
+      if (!field) {
+        return
+      }
+      const { fieldApi } = get(field)
+      fieldApi.setValue(value)
+    },
+    resetField: fieldName => {
+      const field = getField(fieldName)
+      if (!field) {
+        return
+      }
+      const { fieldApi } = get(field)
+      fieldApi.reset()
+    },
   }
 
   // Creates an API for a specific field
@@ -268,11 +284,11 @@
       return !error
     }
 
-    // Clears the value of a certain field back to the initial value
-    const clearValue = () => {
+    // Clears the value of a certain field back to the default value
+    const reset = () => {
       const fieldInfo = getField(field)
       const { fieldState } = get(fieldInfo)
-      const newValue = initialValues[field] ?? fieldState.defaultValue
+      const newValue = fieldState.defaultValue
 
       // Update field state
       fieldInfo.update(state => {
@@ -329,7 +345,7 @@
 
     return {
       setValue,
-      clearValue,
+      reset,
       updateValidation,
       setDisabled,
       validate: () => {
@@ -354,11 +370,20 @@
   // register their fields to step 1
   setContext("form-step", writable(1))
 
+  const handleUpdateFieldValue = ({ type, field, value }) => {
+    if (type === "set") {
+      formApi.setFieldValue(field, value)
+    } else {
+      formApi.resetField(field)
+    }
+  }
+
   // Action context to pass to children
   const actions = [
     { type: ActionTypes.ValidateForm, callback: formApi.validate },
-    { type: ActionTypes.ClearForm, callback: formApi.clear },
+    { type: ActionTypes.ClearForm, callback: formApi.reset },
     { type: ActionTypes.ChangeFormStep, callback: formApi.changeStep },
+    { type: ActionTypes.UpdateFieldValue, callback: handleUpdateFieldValue },
   ]
 </script>
 
diff --git a/packages/client/src/constants.js b/packages/client/src/constants.js
index 965ca788e1..51ef3fd124 100644
--- a/packages/client/src/constants.js
+++ b/packages/client/src/constants.js
@@ -21,6 +21,7 @@ export const UnsortableTypes = [
 
 export const ActionTypes = {
   ValidateForm: "ValidateForm",
+  UpdateFieldValue: "UpdateFieldValue",
   RefreshDatasource: "RefreshDatasource",
   AddDataProviderQueryExtension: "AddDataProviderQueryExtension",
   RemoveDataProviderQueryExtension: "RemoveDataProviderQueryExtension",
diff --git a/packages/client/src/utils/buttonActions.js b/packages/client/src/utils/buttonActions.js
index f851a623c0..bb1e7c30c9 100644
--- a/packages/client/src/utils/buttonActions.js
+++ b/packages/client/src/utils/buttonActions.js
@@ -162,6 +162,19 @@ const executeActionHandler = async (
   }
 }
 
+const updateFieldValueHandler = async (action, context) => {
+  return await executeActionHandler(
+    context,
+    action.parameters.componentId,
+    ActionTypes.UpdateFieldValue,
+    {
+      type: action.parameters.type,
+      field: action.parameters.field,
+      value: action.parameters.value,
+    }
+  )
+}
+
 const validateFormHandler = async (action, context) => {
   return await executeActionHandler(
     context,
@@ -295,6 +308,7 @@ const handlerMap = {
   ["Execute Query"]: queryExecutionHandler,
   ["Trigger Automation"]: triggerAutomationHandler,
   ["Validate Form"]: validateFormHandler,
+  ["Update Field Value"]: updateFieldValueHandler,
   ["Refresh Data Provider"]: refreshDataProviderHandler,
   ["Log Out"]: logoutHandler,
   ["Clear Form"]: clearFormHandler,