diff --git a/erpnext/accounts/doctype/journal_entry/journal_entry.py b/erpnext/accounts/doctype/journal_entry/journal_entry.py
index 2bbfe34..b9463bc 100644
--- a/erpnext/accounts/doctype/journal_entry/journal_entry.py
+++ b/erpnext/accounts/doctype/journal_entry/journal_entry.py
@@ -24,7 +24,7 @@
 	get_stock_and_account_balance,
 )
 from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule import (
-	get_depr_schedule,
+	get_cancelled_depr_schedule,
 )
 from erpnext.controllers.accounts_controller import AccountsController
 
@@ -287,7 +287,7 @@
 			if d.reference_type == "Asset" and d.reference_name:
 				asset = frappe.get_doc("Asset", d.reference_name)
 				for row in asset.get("finance_books"):
-					depr_schedule = get_depr_schedule(asset.name, row.finance_book)
+					depr_schedule = get_cancelled_depr_schedule(asset.name, row.finance_book)
 
 					for s in depr_schedule:
 						if s.journal_entry == self.name:
diff --git a/erpnext/accounts/doctype/sales_invoice/test_sales_invoice.py b/erpnext/accounts/doctype/sales_invoice/test_sales_invoice.py
index 363ca16..22a317c 100644
--- a/erpnext/accounts/doctype/sales_invoice/test_sales_invoice.py
+++ b/erpnext/accounts/doctype/sales_invoice/test_sales_invoice.py
@@ -22,7 +22,7 @@
 from erpnext.assets.doctype.asset.depreciation import post_depreciation_entries
 from erpnext.assets.doctype.asset.test_asset import create_asset, create_asset_data
 from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule import (
-	get_depr_schedule,
+	get_draft_or_active_depr_schedule,
 )
 from erpnext.controllers.accounts_controller import update_invoice_status
 from erpnext.controllers.taxes_and_totals import get_itemised_tax_breakup_data
@@ -2777,7 +2777,7 @@
 			["2021-09-30", 5041.1, 26407.22],
 		]
 
-		for i, schedule in enumerate(get_depr_schedule(asset.name)):
+		for i, schedule in enumerate(get_draft_or_active_depr_schedule(asset.name)):
 			self.assertEqual(getdate(expected_values[i][0]), schedule.schedule_date)
 			self.assertEqual(expected_values[i][1], schedule.depreciation_amount)
 			self.assertEqual(expected_values[i][2], schedule.accumulated_depreciation_amount)
@@ -2808,7 +2808,7 @@
 
 		expected_values = [["2020-12-31", 30000, 30000], ["2021-12-31", 30000, 60000]]
 
-		for i, schedule in enumerate(get_depr_schedule(asset.name)):
+		for i, schedule in enumerate(get_draft_or_active_depr_schedule(asset.name)):
 			self.assertEqual(getdate(expected_values[i][0]), schedule.schedule_date)
 			self.assertEqual(expected_values[i][1], schedule.depreciation_amount)
 			self.assertEqual(expected_values[i][2], schedule.accumulated_depreciation_amount)
@@ -2837,7 +2837,7 @@
 			["2025-06-06", 18633.88, 100000.0, False],
 		]
 
-		for i, schedule in enumerate(get_depr_schedule(asset.name)):
+		for i, schedule in enumerate(get_draft_or_active_depr_schedule(asset.name)):
 			self.assertEqual(getdate(expected_values[i][0]), schedule.schedule_date)
 			self.assertEqual(expected_values[i][1], schedule.depreciation_amount)
 			self.assertEqual(expected_values[i][2], schedule.accumulated_depreciation_amount)
diff --git a/erpnext/assets/doctype/asset/asset.js b/erpnext/assets/doctype/asset/asset.js
index aa3af3b..9754ab3 100644
--- a/erpnext/assets/doctype/asset/asset.js
+++ b/erpnext/assets/doctype/asset/asset.js
@@ -209,7 +209,7 @@
 
 		if (frm.doc.finance_books.length == 1) {
 			depr_schedule = (await frappe.call(
-				"erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule.get_depr_schedule",
+				"erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule.get_draft_or_active_depr_schedule",
 				{
 					asset_name: frm.doc.name,
 					finance_book: frm.doc.finance_books[0].finance_book || null
diff --git a/erpnext/assets/doctype/asset/asset.py b/erpnext/assets/doctype/asset/asset.py
index cb97ccc..b9274b1 100644
--- a/erpnext/assets/doctype/asset/asset.py
+++ b/erpnext/assets/doctype/asset/asset.py
@@ -32,8 +32,8 @@
 from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule import (
 	cancel_asset_depr_schedules,
 	convert_draft_asset_depr_schedules_into_active,
-	get_asset_depr_schedule_doc,
-	get_depr_schedule,
+	get_draft_or_active_asset_depr_schedule_doc,
+	get_draft_or_active_depr_schedule,
 	make_draft_asset_depr_schedules,
 	make_draft_asset_depr_schedules_if_not_present,
 	set_draft_asset_depr_schedule_details,
@@ -337,7 +337,7 @@
 
 	def validate_expected_value_after_useful_life(self):
 		for row in self.get("finance_books"):
-			depr_schedule = get_depr_schedule(self.name, row.finance_book)
+			depr_schedule = get_draft_or_active_depr_schedule(self.name, row.finance_book)
 
 			if not depr_schedule:
 				continue
@@ -393,7 +393,7 @@
 
 	def delete_depreciation_entries(self):
 		for row in self.get("finance_books"):
-			depr_schedule = get_depr_schedule(self.name, row.finance_book)
+			depr_schedule = get_draft_or_active_depr_schedule(self.name, row.finance_book)
 
 			for d in depr_schedule:
 				if d.journal_entry:
@@ -881,7 +881,9 @@
 			expected_value_after_useful_life,
 		)
 
-		current_asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset.name, row.finance_book)
+		current_asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(
+			asset.name, row.finance_book
+		)
 		new_asset_depr_schedule_doc = frappe.copy_doc(current_asset_depr_schedule_doc)
 
 		set_draft_asset_depr_schedule_details(new_asset_depr_schedule_doc, asset, row)
@@ -930,7 +932,9 @@
 	new_asset.set_status()
 
 	for row in new_asset.get("finance_books"):
-		current_asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset.name, row.finance_book)
+		current_asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(
+			asset.name, row.finance_book
+		)
 		new_asset_depr_schedule_doc = frappe.copy_doc(current_asset_depr_schedule_doc)
 
 		set_draft_asset_depr_schedule_details(new_asset_depr_schedule_doc, new_asset, row)
@@ -951,7 +955,7 @@
 		new_asset_depr_schedule_doc.submit()
 
 	for row in new_asset.get("finance_books"):
-		depr_schedule = get_depr_schedule(new_asset.name, row.finance_book)
+		depr_schedule = get_draft_or_active_depr_schedule(new_asset.name, row.finance_book)
 		for term in depr_schedule:
 			# Update references in JV
 			if term.journal_entry:
diff --git a/erpnext/assets/doctype/asset/depreciation.py b/erpnext/assets/doctype/asset/depreciation.py
index 4278658..3a3123fb 100644
--- a/erpnext/assets/doctype/asset/depreciation.py
+++ b/erpnext/assets/doctype/asset/depreciation.py
@@ -11,8 +11,8 @@
 )
 from erpnext.accounts.doctype.journal_entry.journal_entry import make_reverse_journal_entry
 from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule import (
-	get_asset_depr_schedule_doc,
-	get_asset_depr_schedule_name,
+	get_draft_or_active_asset_depr_schedule_doc,
+	get_draft_or_active_asset_depr_schedule_name,
 	get_temp_asset_depr_schedule_doc,
 	make_new_active_asset_depr_schedules_and_cancel_current_ones,
 )
@@ -51,7 +51,9 @@
 
 def make_depreciation_entry_for_all_asset_depr_schedules(asset_doc, date=None):
 	for row in asset_doc.get("finance_books"):
-		asset_depr_schedule_name = get_asset_depr_schedule_name(asset_doc.name, row.finance_book)
+		asset_depr_schedule_name = get_draft_or_active_asset_depr_schedule_name(
+			asset_doc.name, row.finance_book
+		)
 		make_depreciation_entry(asset_depr_schedule_name, date)
 
 
@@ -316,7 +318,9 @@
 
 def reverse_depreciation_entry_made_after_disposal(asset, date):
 	for row in asset.get("finance_books"):
-		asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset.name, row.finance_book)
+		asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(
+			asset.name, row.finance_book
+		)
 
 		for schedule_idx, schedule in enumerate(asset_depr_schedule_doc.get("depreciation_schedule")):
 			if schedule.schedule_date == date:
diff --git a/erpnext/assets/doctype/asset/test_asset.py b/erpnext/assets/doctype/asset/test_asset.py
index 8835b32..f6da9d3 100644
--- a/erpnext/assets/doctype/asset/test_asset.py
+++ b/erpnext/assets/doctype/asset/test_asset.py
@@ -29,8 +29,8 @@
 )
 from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule import (
 	clear_depr_schedule,
-	get_asset_depr_schedule_doc,
-	get_depr_schedule,
+	get_draft_or_active_asset_depr_schedule_doc,
+	get_draft_or_active_depr_schedule,
 )
 from erpnext.stock.doctype.purchase_receipt.purchase_receipt import (
 	make_purchase_invoice as make_invoice,
@@ -384,8 +384,8 @@
 		new_asset = split_asset(asset.name, 2)
 		asset.load_from_db()
 
-		depr_schedule_of_asset = get_depr_schedule(asset.name)
-		depr_schedule_of_new_asset = get_depr_schedule(new_asset.name)
+		depr_schedule_of_asset = get_draft_or_active_depr_schedule(asset.name)
+		depr_schedule_of_new_asset = get_draft_or_active_depr_schedule(new_asset.name)
 
 		self.assertEqual(new_asset.asset_quantity, 2)
 		self.assertEqual(new_asset.gross_purchase_amount, 24000)
@@ -637,7 +637,7 @@
 
 		schedules = [
 			[cstr(d.schedule_date), d.depreciation_amount, d.accumulated_depreciation_amount]
-			for d in get_depr_schedule(asset.name)
+			for d in get_draft_or_active_depr_schedule(asset.name)
 		]
 
 		self.assertEqual(schedules, expected_schedules)
@@ -659,7 +659,7 @@
 		expected_schedules = [["2032-12-31", 30000.0, 77095.89], ["2033-06-06", 12904.11, 90000.0]]
 		schedules = [
 			[cstr(d.schedule_date), flt(d.depreciation_amount, 2), d.accumulated_depreciation_amount]
-			for d in get_depr_schedule(asset.name)
+			for d in get_draft_or_active_depr_schedule(asset.name)
 		]
 
 		self.assertEqual(schedules, expected_schedules)
@@ -686,7 +686,7 @@
 
 		schedules = [
 			[cstr(d.schedule_date), d.depreciation_amount, d.accumulated_depreciation_amount]
-			for d in get_depr_schedule(asset.name)
+			for d in get_draft_or_active_depr_schedule(asset.name)
 		]
 
 		self.assertEqual(schedules, expected_schedules)
@@ -711,7 +711,7 @@
 
 		schedules = [
 			[cstr(d.schedule_date), d.depreciation_amount, d.accumulated_depreciation_amount]
-			for d in get_depr_schedule(asset.name)
+			for d in get_draft_or_active_depr_schedule(asset.name)
 		]
 
 		self.assertEqual(schedules, expected_schedules)
@@ -741,7 +741,7 @@
 				flt(d.depreciation_amount, 2),
 				flt(d.accumulated_depreciation_amount, 2),
 			]
-			for d in get_depr_schedule(asset.name)
+			for d in get_draft_or_active_depr_schedule(asset.name)
 		]
 
 		self.assertEqual(schedules, expected_schedules)
@@ -773,7 +773,7 @@
 				flt(d.depreciation_amount, 2),
 				flt(d.accumulated_depreciation_amount, 2),
 			]
-			for d in get_depr_schedule(asset.name)
+			for d in get_draft_or_active_depr_schedule(asset.name)
 		]
 
 		self.assertEqual(schedules, expected_schedules)
@@ -806,7 +806,7 @@
 				flt(d.depreciation_amount, 2),
 				flt(d.accumulated_depreciation_amount, 2),
 			]
-			for d in get_depr_schedule(asset.name)
+			for d in get_draft_or_active_depr_schedule(asset.name)
 		]
 
 		self.assertEqual(schedules, expected_schedules)
@@ -839,7 +839,7 @@
 				flt(d.depreciation_amount, 2),
 				flt(d.accumulated_depreciation_amount, 2),
 			]
-			for d in get_depr_schedule(asset.name)
+			for d in get_draft_or_active_depr_schedule(asset.name)
 		]
 		self.assertEqual(schedules, expected_schedules)
 
@@ -862,7 +862,7 @@
 			["2022-12-31", 30000, 90000],
 		]
 
-		for i, schedule in enumerate(get_depr_schedule(asset.name)):
+		for i, schedule in enumerate(get_draft_or_active_depr_schedule(asset.name)):
 			self.assertEqual(getdate(expected_values[i][0]), schedule.schedule_date)
 			self.assertEqual(expected_values[i][1], schedule.depreciation_amount)
 			self.assertEqual(expected_values[i][2], schedule.accumulated_depreciation_amount)
@@ -885,7 +885,7 @@
 			["2023-01-01", 15000, 90000],
 		]
 
-		for i, schedule in enumerate(get_depr_schedule(asset.name)):
+		for i, schedule in enumerate(get_draft_or_active_depr_schedule(asset.name)):
 			self.assertEqual(getdate(expected_values[i][0]), schedule.schedule_date)
 			self.assertEqual(expected_values[i][1], schedule.depreciation_amount)
 			self.assertEqual(expected_values[i][2], schedule.accumulated_depreciation_amount)
@@ -930,7 +930,7 @@
 
 		expected_values = [["2020-12-31", 30000.0], ["2021-12-31", 30000.0], ["2022-12-31", 30000.0]]
 
-		for i, schedule in enumerate(get_depr_schedule(asset.name)):
+		for i, schedule in enumerate(get_draft_or_active_depr_schedule(asset.name)):
 			self.assertEqual(getdate(expected_values[i][0]), schedule.schedule_date)
 			self.assertEqual(expected_values[i][1], schedule.depreciation_amount)
 
@@ -950,7 +950,7 @@
 
 		expected_values = [30000.0, 60000.0, 90000.0]
 
-		for i, schedule in enumerate(get_depr_schedule(asset.name)):
+		for i, schedule in enumerate(get_draft_or_active_depr_schedule(asset.name)):
 			self.assertEqual(expected_values[i], schedule.accumulated_depreciation_amount)
 
 	def test_check_is_pro_rata(self):
@@ -1130,9 +1130,9 @@
 		post_depreciation_entries(date="2021-06-01")
 		asset.load_from_db()
 
-		self.assertTrue(get_depr_schedule(asset.name)[0].journal_entry)
-		self.assertFalse(get_depr_schedule(asset.name)[1].journal_entry)
-		self.assertFalse(get_depr_schedule(asset.name)[2].journal_entry)
+		self.assertTrue(get_draft_or_active_depr_schedule(asset.name)[0].journal_entry)
+		self.assertFalse(get_draft_or_active_depr_schedule(asset.name)[1].journal_entry)
+		self.assertFalse(get_draft_or_active_depr_schedule(asset.name)[2].journal_entry)
 
 	def test_depr_entry_posting_when_depr_expense_account_is_an_expense_account(self):
 		"""Tests if the Depreciation Expense Account gets debited and the Accumulated Depreciation Account gets credited when the former's an Expense Account."""
@@ -1151,7 +1151,9 @@
 		post_depreciation_entries(date="2021-06-01")
 		asset.load_from_db()
 
-		je = frappe.get_doc("Journal Entry", get_depr_schedule(asset.name)[0].journal_entry)
+		je = frappe.get_doc(
+			"Journal Entry", get_draft_or_active_depr_schedule(asset.name)[0].journal_entry
+		)
 		accounting_entries = [
 			{"account": entry.account, "debit": entry.debit, "credit": entry.credit}
 			for entry in je.accounts
@@ -1187,7 +1189,9 @@
 		post_depreciation_entries(date="2021-06-01")
 		asset.load_from_db()
 
-		je = frappe.get_doc("Journal Entry", get_depr_schedule(asset.name)[0].journal_entry)
+		je = frappe.get_doc(
+			"Journal Entry", get_draft_or_active_depr_schedule(asset.name)[0].journal_entry
+		)
 		accounting_entries = [
 			{"account": entry.account, "debit": entry.debit, "credit": entry.credit}
 			for entry in je.accounts
@@ -1223,7 +1227,7 @@
 		post_depreciation_entries(date="2021-06-01")
 		asset.load_from_db()
 
-		asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset.name)
+		asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(asset.name)
 
 		clear_depr_schedule(asset_depr_schedule_doc)
 
@@ -1271,15 +1275,21 @@
 		post_depreciation_entries(date="2020-04-01")
 		asset.load_from_db()
 
-		asset_depr_schedule_doc_1 = get_asset_depr_schedule_doc(asset.name, "Test Finance Book 1")
+		asset_depr_schedule_doc_1 = get_draft_or_active_asset_depr_schedule_doc(
+			asset.name, "Test Finance Book 1"
+		)
 		clear_depr_schedule(asset_depr_schedule_doc_1)
 		self.assertEqual(len(asset_depr_schedule_doc_1.get("depreciation_schedule")), 3)
 
-		asset_depr_schedule_doc_2 = get_asset_depr_schedule_doc(asset.name, "Test Finance Book 2")
+		asset_depr_schedule_doc_2 = get_draft_or_active_asset_depr_schedule_doc(
+			asset.name, "Test Finance Book 2"
+		)
 		clear_depr_schedule(asset_depr_schedule_doc_2)
 		self.assertEqual(len(asset_depr_schedule_doc_2.get("depreciation_schedule")), 3)
 
-		asset_depr_schedule_doc_3 = get_asset_depr_schedule_doc(asset.name, "Test Finance Book 3")
+		asset_depr_schedule_doc_3 = get_draft_or_active_asset_depr_schedule_doc(
+			asset.name, "Test Finance Book 3"
+		)
 		clear_depr_schedule(asset_depr_schedule_doc_3)
 		self.assertEqual(len(asset_depr_schedule_doc_3.get("depreciation_schedule")), 0)
 
@@ -1311,10 +1321,14 @@
 		)
 		asset.save()
 
-		asset_depr_schedule_doc_1 = get_asset_depr_schedule_doc(asset.name, "Test Finance Book 1")
+		asset_depr_schedule_doc_1 = get_draft_or_active_asset_depr_schedule_doc(
+			asset.name, "Test Finance Book 1"
+		)
 		self.assertEqual(len(asset_depr_schedule_doc_1.get("depreciation_schedule")), 3)
 
-		asset_depr_schedule_doc_2 = get_asset_depr_schedule_doc(asset.name, "Test Finance Book 2")
+		asset_depr_schedule_doc_2 = get_draft_or_active_asset_depr_schedule_doc(
+			asset.name, "Test Finance Book 2"
+		)
 		self.assertEqual(len(asset_depr_schedule_doc_2.get("depreciation_schedule")), 6)
 
 	def test_depreciation_entry_cancellation(self):
@@ -1335,12 +1349,12 @@
 		asset.load_from_db()
 
 		# cancel depreciation entry
-		depr_entry = get_depr_schedule(asset.name)[0].journal_entry
+		depr_entry = get_draft_or_active_depr_schedule(asset.name)[0].journal_entry
 		self.assertTrue(depr_entry)
 		frappe.get_doc("Journal Entry", depr_entry).cancel()
 
 		asset.load_from_db()
-		depr_entry = get_depr_schedule(asset.name)[0].journal_entry
+		depr_entry = get_draft_or_active_depr_schedule(asset.name)[0].journal_entry
 		self.assertFalse(depr_entry)
 
 	def test_asset_expected_value_after_useful_life(self):
@@ -1355,7 +1369,7 @@
 		)
 
 		accumulated_depreciation_after_full_schedule = max(
-			d.accumulated_depreciation_amount for d in get_depr_schedule(asset.name)
+			d.accumulated_depreciation_amount for d in get_draft_or_active_depr_schedule(asset.name)
 		)
 
 		asset_value_after_full_schedule = flt(asset.gross_purchase_amount) - flt(
@@ -1386,7 +1400,7 @@
 		asset.load_from_db()
 
 		# check depreciation entry series
-		self.assertEqual(get_depr_schedule(asset.name)[0].journal_entry[:4], "DEPR")
+		self.assertEqual(get_draft_or_active_depr_schedule(asset.name)[0].journal_entry[:4], "DEPR")
 
 		expected_gle = (
 			("_Test Accumulated Depreciations - _TC", 0.0, 30000.0),
@@ -1456,7 +1470,7 @@
 			"2020-07-15",
 		]
 
-		for i, schedule in enumerate(get_depr_schedule(asset.name)):
+		for i, schedule in enumerate(get_draft_or_active_depr_schedule(asset.name)):
 			self.assertEqual(getdate(expected_dates[i]), getdate(schedule.schedule_date))
 
 
diff --git a/erpnext/assets/doctype/asset_capitalization/test_asset_capitalization.py b/erpnext/assets/doctype/asset_capitalization/test_asset_capitalization.py
index e99e71b..abbbd20 100644
--- a/erpnext/assets/doctype/asset_capitalization/test_asset_capitalization.py
+++ b/erpnext/assets/doctype/asset_capitalization/test_asset_capitalization.py
@@ -13,7 +13,7 @@
 	set_depreciation_settings_in_company,
 )
 from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule import (
-	get_depr_schedule,
+	get_draft_or_active_depr_schedule,
 )
 from erpnext.stock.doctype.item.test_item import create_item
 
@@ -287,7 +287,7 @@
 
 		consumed_depreciation_schedule = [
 			d
-			for d in get_depr_schedule(consumed_asset.name)
+			for d in get_draft_or_active_depr_schedule(consumed_asset.name)
 			if getdate(d.schedule_date) == getdate(capitalization_date)
 		]
 		self.assertTrue(
diff --git a/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.py b/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.py
index 05784e7..47965cf 100644
--- a/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.py
+++ b/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.py
@@ -35,20 +35,19 @@
 			],
 		)
 
-		if num_asset_depr_schedules == 1:
-			asset_depr_schedule_name = get_asset_depr_schedule_name(self.asset, self.finance_book)
-
-			if self.name != asset_depr_schedule_name:
-				frappe.throw(
-					_("Asset Depreciation Schedule for Asset {0} and Finance Book {1} already exists.").format(
-						self.asset, self.finance_book
-					)
+		if num_asset_depr_schedules > 1:
+			frappe.throw(
+				_("Asset Depreciation Schedule for Asset {0} and Finance Book {1} already exists.").format(
+					self.asset, self.finance_book
 				)
+			)
 
 
 def make_draft_asset_depr_schedules_if_not_present(asset_doc):
 	for row in asset_doc.get("finance_books"):
-		asset_depr_schedule_name = get_asset_depr_schedule_name(asset_doc.name, row.finance_book)
+		asset_depr_schedule_name = get_draft_or_active_asset_depr_schedule_name(
+			asset_doc.name, row.finance_book
+		)
 
 		if not asset_depr_schedule_name:
 			make_draft_asset_depr_schedule(asset_doc, row)
@@ -69,7 +68,9 @@
 
 def update_draft_asset_depr_schedules(asset_doc):
 	for row in asset_doc.get("finance_books"):
-		asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset_doc.name, row.finance_book)
+		asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(
+			asset_doc.name, row.finance_book
+		)
 
 		if not asset_depr_schedule_doc:
 			continue
@@ -111,7 +112,9 @@
 
 def convert_draft_asset_depr_schedules_into_active(asset_doc):
 	for row in asset_doc.get("finance_books"):
-		asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset_doc.name, row.finance_book)
+		asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(
+			asset_doc.name, row.finance_book
+		)
 
 		if asset_depr_schedule_doc.status == "Draft":
 			asset_depr_schedule_doc.status = "Active"
@@ -122,7 +125,9 @@
 	asset_doc, notes, date_of_disposal=None, date_of_return=None
 ):
 	for row in asset_doc.get("finance_books"):
-		current_asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset_doc.name, row.finance_book)
+		current_asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(
+			asset_doc.name, row.finance_book
+		)
 
 		if not current_asset_depr_schedule_doc:
 			frappe.throw(
@@ -162,20 +167,17 @@
 
 def cancel_asset_depr_schedules(asset_doc):
 	for row in asset_doc.get("finance_books"):
-		asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset_doc.name, row.finance_book)
+		asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(
+			asset_doc.name, row.finance_book
+		)
 
 		if not asset_depr_schedule_doc:
 			continue
 
-		frappe.db.set_value(
-			"Asset Depreciation Schedule", asset_depr_schedule_doc.name, "status", "Cancelled"
-		)
-		asset_depr_schedule_doc.reload()
-
 		asset_depr_schedule_doc.cancel()
 
 
-def get_asset_depr_schedule_name(asset_name, finance_book=None):
+def get_draft_or_active_asset_depr_schedule_name(asset_name, finance_book=None):
 	finance_book_filter = ["finance_book", "is", "not set"]
 	if finance_book:
 		finance_book_filter = ["finance_book", "=", finance_book]
@@ -185,14 +187,29 @@
 		filters=[
 			["asset", "=", asset_name],
 			finance_book_filter,
-			["docstatus", "<", 2],
+			["status", "in", ["Draft", "Active"]],
+		],
+	)
+
+
+def get_cancelled_asset_depr_schedule_name(asset_name, finance_book=None):
+	finance_book_filter = ["finance_book", "is", "not set"]
+	if finance_book:
+		finance_book_filter = ["finance_book", "=", finance_book]
+
+	return frappe.db.get_value(
+		doctype="Asset Depreciation Schedule",
+		filters=[
+			["asset", "=", asset_name],
+			finance_book_filter,
+			["docstatus", "=", "2"],
 		],
 	)
 
 
 @frappe.whitelist()
-def get_depr_schedule(asset_name, finance_book=None):
-	asset_depr_schedule_doc = get_asset_depr_schedule_doc(asset_name, finance_book)
+def get_draft_or_active_depr_schedule(asset_name, finance_book=None):
+	asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(asset_name, finance_book)
 
 	if not asset_depr_schedule_doc:
 		return
@@ -200,8 +217,28 @@
 	return asset_depr_schedule_doc.get("depreciation_schedule")
 
 
-def get_asset_depr_schedule_doc(asset_name, finance_book=None):
-	asset_depr_schedule_name = get_asset_depr_schedule_name(asset_name, finance_book)
+def get_cancelled_depr_schedule(asset_name, finance_book=None):
+	asset_depr_schedule_doc = get_cancelled_asset_depr_schedule_doc(asset_name, finance_book)
+
+	if not asset_depr_schedule_doc:
+		return
+
+	return asset_depr_schedule_doc.get("depreciation_schedule")
+
+
+def get_draft_or_active_asset_depr_schedule_doc(asset_name, finance_book=None):
+	asset_depr_schedule_name = get_draft_or_active_asset_depr_schedule_name(asset_name, finance_book)
+
+	if not asset_depr_schedule_name:
+		return
+
+	asset_depr_schedule_doc = frappe.get_doc("Asset Depreciation Schedule", asset_depr_schedule_name)
+
+	return asset_depr_schedule_doc
+
+
+def get_cancelled_asset_depr_schedule_doc(asset_name, finance_book=None):
+	asset_depr_schedule_name = get_cancelled_asset_depr_schedule_name(asset_name, finance_book)
 
 	if not asset_depr_schedule_name:
 		return
diff --git a/erpnext/assets/doctype/asset_repair/asset_repair.py b/erpnext/assets/doctype/asset_repair/asset_repair.py
index 6239915..c5036fa 100644
--- a/erpnext/assets/doctype/asset_repair/asset_repair.py
+++ b/erpnext/assets/doctype/asset_repair/asset_repair.py
@@ -9,7 +9,7 @@
 from erpnext.accounts.general_ledger import make_gl_entries
 from erpnext.assets.doctype.asset.asset import get_asset_account
 from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule import (
-	get_depr_schedule,
+	get_draft_or_active_depr_schedule,
 	make_new_active_asset_depr_schedules_and_cancel_current_ones,
 )
 from erpnext.controllers.accounts_controller import AccountsController
@@ -289,7 +289,7 @@
 			asset.number_of_depreciations_booked
 		)
 
-		depr_schedule = get_depr_schedule(asset.name, row.finance_book)
+		depr_schedule = get_draft_or_active_depr_schedule(asset.name, row.finance_book)
 
 		# the Schedule Date in the final row of the old Depreciation Schedule
 		last_schedule_date = depr_schedule[len(depr_schedule) - 1].schedule_date
@@ -322,7 +322,7 @@
 			asset.number_of_depreciations_booked
 		)
 
-		depr_schedule = get_depr_schedule(asset.name, row.finance_book)
+		depr_schedule = get_draft_or_active_depr_schedule(asset.name, row.finance_book)
 
 		# the Schedule Date in the final row of the modified Depreciation Schedule
 		last_schedule_date = depr_schedule[len(depr_schedule) - 1].schedule_date
diff --git a/erpnext/assets/doctype/asset_repair/test_asset_repair.py b/erpnext/assets/doctype/asset_repair/test_asset_repair.py
index 4579b4d..8ba3c0e 100644
--- a/erpnext/assets/doctype/asset_repair/test_asset_repair.py
+++ b/erpnext/assets/doctype/asset_repair/test_asset_repair.py
@@ -13,7 +13,7 @@
 	set_depreciation_settings_in_company,
 )
 from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule import (
-	get_depr_schedule,
+	get_draft_or_active_depr_schedule,
 )
 from erpnext.stock.doctype.item.test_item import create_item
 
@@ -241,7 +241,7 @@
 
 		self.assertEqual((initial_num_of_depreciations + 1), num_of_depreciations(asset))
 		self.assertEqual(
-			get_depr_schedule(asset.name)[-1].accumulated_depreciation_amount,
+			get_draft_or_active_depr_schedule(asset.name)[-1].accumulated_depreciation_amount,
 			asset.finance_books[0].value_after_depreciation,
 		)
 
diff --git a/erpnext/assets/doctype/asset_value_adjustment/asset_value_adjustment.py b/erpnext/assets/doctype/asset_value_adjustment/asset_value_adjustment.py
index 0248a37..3ead832 100644
--- a/erpnext/assets/doctype/asset_value_adjustment/asset_value_adjustment.py
+++ b/erpnext/assets/doctype/asset_value_adjustment/asset_value_adjustment.py
@@ -12,8 +12,8 @@
 )
 from erpnext.assets.doctype.asset.depreciation import get_depreciation_accounts
 from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_schedule import (
-	get_asset_depr_schedule_name,
 	get_depreciation_amount,
+	get_draft_or_active_asset_depr_schedule_doc,
 	set_accumulated_depreciation,
 )
 
@@ -116,12 +116,13 @@
 		for d in asset.finance_books:
 			d.value_after_depreciation = asset_value
 
-			current_asset_depr_schedule_name = get_asset_depr_schedule_name(asset.name, d.finance_book)
-			current_asset_depr_schedule_doc = frappe.get_doc(
-				"Asset Depreciation Schedule", current_asset_depr_schedule_name
+			current_asset_depr_schedule_doc = get_draft_or_active_asset_depr_schedule_doc(
+				asset.name, d.finance_book
 			)
 
 			new_asset_depr_schedule_doc = frappe.copy_doc(current_asset_depr_schedule_doc)
+			new_asset_depr_schedule_doc.status = "Draft"
+			new_asset_depr_schedule_doc.docstatus = 0
 
 			current_asset_depr_schedule_doc.cancel()
 
@@ -166,6 +167,7 @@
 				if not asset_data.journal_entry:
 					asset_data.db_update()
 
+			new_asset_depr_schedule_doc.status = "Active"
 			new_asset_depr_schedule_doc.submit()