diff --git a/erpnext/assets/doctype/asset/asset.py b/erpnext/assets/doctype/asset/asset.py
index 8754bb7125a..ae77b9b94ce 100644
--- a/erpnext/assets/doctype/asset/asset.py
+++ b/erpnext/assets/doctype/asset/asset.py
@@ -337,10 +337,6 @@ class Asset(AccountsController):
 				if should_get_last_day:
 					schedule_date = get_last_day(schedule_date)
 
-				# schedule date will be a year later from start date
-				# so monthly schedule date is calculated by removing 11 months from it
-				monthly_schedule_date = add_months(schedule_date, -finance_book.frequency_of_depreciation + 1)
-
 			# if asset is being sold
 			if date_of_disposal:
 				from_date = self.get_from_date_for_disposal(finance_book)
@@ -363,14 +359,20 @@ class Asset(AccountsController):
 				break
 
 			# For first row
-			if (
-				(has_pro_rata or has_wdv_or_dd_non_yearly_pro_rata)
-				and not self.opening_accumulated_depreciation
-				and n == 0
-			):
-				from_date = add_days(
-					self.available_for_use_date, -1
-				)  # needed to calc depr amount for available_for_use_date too
+			if n == 0 and has_pro_rata and not self.opening_accumulated_depreciation:
+				from_date = add_days(self.available_for_use_date, -1)
+				depreciation_amount, days, months = self.get_pro_rata_amt(
+					finance_book,
+					depreciation_amount,
+					from_date,
+					finance_book.depreciation_start_date,
+					has_wdv_or_dd_non_yearly_pro_rata,
+				)
+			elif n == 0 and has_wdv_or_dd_non_yearly_pro_rata and self.opening_accumulated_depreciation:
+				from_date = add_months(
+					getdate(self.available_for_use_date),
+					(self.number_of_depreciations_booked * finance_book.frequency_of_depreciation),
+				)
 				depreciation_amount, days, months = self.get_pro_rata_amt(
 					finance_book,
 					depreciation_amount,
@@ -378,10 +380,6 @@ class Asset(AccountsController):
 					finance_book.depreciation_start_date,
 					has_wdv_or_dd_non_yearly_pro_rata,
 				)
-
-				# For first depr schedule date will be the start date
-				# so monthly schedule date is calculated by removing month difference between use date and start date
-				monthly_schedule_date = add_months(finance_book.depreciation_start_date, -months + 1)
 
 			# For last row
 			elif has_pro_rata and n == cint(number_of_pending_depreciations) - 1:
@@ -406,9 +404,7 @@ class Asset(AccountsController):
 					depreciation_amount_without_pro_rata, depreciation_amount, finance_book.finance_book
 				)
 
-				monthly_schedule_date = add_months(schedule_date, 1)
 				schedule_date = add_days(schedule_date, days)
-				last_schedule_date = schedule_date
 
 			if not depreciation_amount:
 				continue