diff --git a/erpnext/assets/doctype/asset/asset.json b/erpnext/assets/doctype/asset/asset.json
index de06075..3c3be98 100644
--- a/erpnext/assets/doctype/asset/asset.json
+++ b/erpnext/assets/doctype/asset/asset.json
@@ -35,6 +35,7 @@
   "available_for_use_date",
   "column_break_23",
   "gross_purchase_amount",
+  "asset_quantity",
   "purchase_date",
   "section_break_23",
   "calculate_depreciation",
@@ -480,6 +481,12 @@
    "fieldname": "section_break_36",
    "fieldtype": "Section Break",
    "label": "Finance Books"
+  },
+  {
+   "fieldname": "asset_quantity",
+   "fieldtype": "Int",
+   "label": "Asset Quantity",
+   "read_only": 1
   }
  ],
  "idx": 72,
@@ -502,10 +509,11 @@
    "link_fieldname": "asset"
   }
  ],
- "modified": "2021-06-24 14:58:51.097908",
+ "modified": "2022-01-18 12:57:36.741192",
  "modified_by": "Administrator",
  "module": "Assets",
  "name": "Asset",
+ "naming_rule": "By \"Naming Series\" field",
  "owner": "Administrator",
  "permissions": [
   {
@@ -542,6 +550,7 @@
  "show_name_in_global_search": 1,
  "sort_field": "modified",
  "sort_order": "DESC",
+ "states": [],
  "title_field": "asset_name",
  "track_changes": 1
 }
\ No newline at end of file
diff --git a/erpnext/controllers/buying_controller.py b/erpnext/controllers/buying_controller.py
index a3d2502..f088b9f 100644
--- a/erpnext/controllers/buying_controller.py
+++ b/erpnext/controllers/buying_controller.py
@@ -554,10 +554,13 @@
 					# Check for asset naming series
 					if item_data.get('asset_naming_series'):
 						created_assets = []
-
-						for qty in range(cint(d.qty)):
-							asset = self.make_asset(d)
+						if item_data.get('is_grouped_asset'):
+							asset = self.make_asset(d, is_grouped_asset=True)
 							created_assets.append(asset)
+						else:
+							for qty in range(cint(d.qty)):
+								asset = self.make_asset(d)
+								created_assets.append(asset)
 
 						if len(created_assets) > 5:
 							# dont show asset form links if more than 5 assets are created
@@ -580,14 +583,18 @@
 		for message in messages:
 			frappe.msgprint(message, title="Success", indicator="green")
 
-	def make_asset(self, row):
+	def make_asset(self, row, is_grouped_asset=False):
 		if not row.asset_location:
 			frappe.throw(_("Row {0}: Enter location for the asset item {1}").format(row.idx, row.item_code))
 
 		item_data = frappe.db.get_value('Item',
 			row.item_code, ['asset_naming_series', 'asset_category'], as_dict=1)
 
-		purchase_amount = flt(row.base_rate + row.item_tax_amount)
+		if is_grouped_asset:
+			purchase_amount = flt(row.base_amount + row.item_tax_amount)
+		else:
+			purchase_amount = flt(row.base_rate + row.item_tax_amount)
+
 		asset = frappe.get_doc({
 			'doctype': 'Asset',
 			'item_code': row.item_code,
@@ -601,6 +608,7 @@
 			'calculate_depreciation': 1,
 			'purchase_receipt_amount': purchase_amount,
 			'gross_purchase_amount': purchase_amount,
+			'asset_quantity': row.qty if is_grouped_asset else 0,
 			'purchase_receipt': self.name if self.doctype == 'Purchase Receipt' else None,
 			'purchase_invoice': self.name if self.doctype == 'Purchase Invoice' else None
 		})
@@ -687,7 +695,7 @@
 
 def get_asset_item_details(asset_items):
 	asset_items_data = {}
-	for d in frappe.get_all('Item', fields = ["name", "auto_create_assets", "asset_naming_series"],
+	for d in frappe.get_all('Item', fields = ["name", "auto_create_assets", "asset_naming_series", "is_grouped_asset"],
 		filters = {'name': ('in', asset_items)}):
 		asset_items_data.setdefault(d.name, d)
 
diff --git a/erpnext/stock/doctype/item/item.json b/erpnext/stock/doctype/item/item.json
index 29abd45..2d28cc0 100644
--- a/erpnext/stock/doctype/item/item.json
+++ b/erpnext/stock/doctype/item/item.json
@@ -28,6 +28,7 @@
   "standard_rate",
   "is_fixed_asset",
   "auto_create_assets",
+  "is_grouped_asset",
   "asset_category",
   "asset_naming_series",
   "over_delivery_receipt_allowance",
@@ -1026,6 +1027,13 @@
    "fieldname": "grant_commission",
    "fieldtype": "Check",
    "label": "Grant Commission"
+  },
+  {
+   "default": "0",
+   "depends_on": "auto_create_assets",
+   "fieldname": "is_grouped_asset",
+   "fieldtype": "Check",
+   "label": "Create Grouped Asset"
   }
  ],
  "has_web_view": 1,
@@ -1034,7 +1042,7 @@
  "image_field": "image",
  "index_web_pages_for_search": 1,
  "links": [],
- "modified": "2021-12-14 04:13:16.857534",
+ "modified": "2022-01-18 12:57:54.273202",
  "modified_by": "Administrator",
  "module": "Stock",
  "name": "Item",
@@ -1104,6 +1112,7 @@
  "show_preview_popup": 1,
  "sort_field": "modified",
  "sort_order": "DESC",
+ "states": [],
  "title_field": "item_name",
  "track_changes": 1
 }
\ No newline at end of file