diff --git a/erpnext/assets/doctype/asset/asset.js b/erpnext/assets/doctype/asset/asset.js
index 1abcf6a55b64..8dd479f5082a 100644
--- a/erpnext/assets/doctype/asset/asset.js
+++ b/erpnext/assets/doctype/asset/asset.js
@@ -567,19 +567,23 @@ frappe.ui.form.on('Depreciation Schedule', {
 	},
 
 	depreciation_amount: function(frm, cdt, cdn) {
-		erpnext.asset.set_accumulated_depreciation(frm);
+		erpnext.asset.set_accumulated_depreciation(frm, locals[cdt][cdn].finance_book_id);
 	}
 
-})
+});
+
+erpnext.asset.set_accumulated_depreciation = function(frm, finance_book_id) {
+	var depreciation_method = frm.doc.finance_books[Number(finance_book_id) - 1].depreciation_method;
 
-erpnext.asset.set_accumulated_depreciation = function(frm) {
-	if(frm.doc.depreciation_method != "Manual") return;
+	if(depreciation_method != "Manual") return;
 
 	var accumulated_depreciation = flt(frm.doc.opening_accumulated_depreciation);
+
 	$.each(frm.doc.schedules || [], function(i, row) {
-		accumulated_depreciation  += flt(row.depreciation_amount);
-		frappe.model.set_value(row.doctype, row.name,
-			"accumulated_depreciation_amount", accumulated_depreciation);
+		if (row.finance_book_id === finance_book_id) {
+			accumulated_depreciation  += flt(row.depreciation_amount);
+			frappe.model.set_value(row.doctype, row.name, "accumulated_depreciation_amount", accumulated_depreciation);
+		};
 	})
 };
 
diff --git a/erpnext/assets/doctype/asset/asset.py b/erpnext/assets/doctype/asset/asset.py
index 711ccc5e0508..1c2ef58b54da 100644
--- a/erpnext/assets/doctype/asset/asset.py
+++ b/erpnext/assets/doctype/asset/asset.py
@@ -84,8 +84,11 @@ def prepare_depreciation_data(self, date_of_disposal=None, date_of_return=None):
 		if self.calculate_depreciation:
 			self.value_after_depreciation = 0
 			self.set_depreciation_rate()
-			self.make_depreciation_schedule(date_of_disposal)
-			self.set_accumulated_depreciation(date_of_disposal, date_of_return)
+			if not (
+				self.get("schedules") and "Manual" in [d.depreciation_method for d in self.finance_books]
+			):
+				self.make_depreciation_schedule(date_of_disposal)
+				self.set_accumulated_depreciation(date_of_disposal, date_of_return)
 		else:
 			self.finance_books = []
 			self.value_after_depreciation = flt(self.gross_purchase_amount) - flt(
@@ -225,9 +228,7 @@ def set_depreciation_rate(self):
 			)
 
 	def make_depreciation_schedule(self, date_of_disposal):
-		if "Manual" not in [d.depreciation_method for d in self.finance_books] and not self.get(
-			"schedules"
-		):
+		if not self.get("schedules"):
 			self.schedules = []
 
 		if not self.available_for_use_date:
@@ -556,7 +557,9 @@ def set_accumulated_depreciation(
 		self, date_of_disposal=None, date_of_return=None, ignore_booked_entry=False
 	):
 		straight_line_idx = [
-			d.idx for d in self.get("schedules") if d.depreciation_method == "Straight Line"
+			d.idx
+			for d in self.get("schedules")
+			if d.depreciation_method == "Straight Line" or d.depreciation_method == "Manual"
 		]
 		finance_books = []