diff --git a/erpnext/accounts/doctype/asset/asset.js b/erpnext/accounts/doctype/asset/asset.js
index e6d8b3b..2cd800a 100644
--- a/erpnext/accounts/doctype/asset/asset.js
+++ b/erpnext/accounts/doctype/asset/asset.js
@@ -8,7 +8,9 @@
 		frm.set_query("item_code", function() {
 			return {
 				"filters": {
-					"disabled": 0
+					"disabled": 0,
+					"is_fixed_asset": 1,
+					"is_stock_item": 0
 				}
 			};
 		});
@@ -113,6 +115,24 @@
 		});		
 	},
 	
+	item_code: function(frm) {
+		if(frm.doc.item_code) {
+			frappe.call({
+				method: "erpnext.accounts.doctype.asset.asset.get_item_details",
+				args: {
+					item_code: frm.doc.item_code
+				},
+				callback: function(r, rt) {
+					if(r.message) {
+						$.each(r.message, function(field, value) {
+							frm.set_value(field, value);
+						})
+					}
+				}
+			})
+		}
+	},
+	
 	is_existing_asset: function(frm) {
 		frm.toggle_enable("supplier", frm.doc.is_existing_asset);
 		frm.toggle_reqd("next_depreciation_date", !frm.doc.is_existing_asset);
diff --git a/erpnext/accounts/doctype/asset/asset.json b/erpnext/accounts/doctype/asset/asset.json
index fa53aed..612574d 100644
--- a/erpnext/accounts/doctype/asset/asset.json
+++ b/erpnext/accounts/doctype/asset/asset.json
@@ -39,32 +39,6 @@
    "allow_on_submit": 0, 
    "bold": 0, 
    "collapsible": 0, 
-   "fieldname": "asset_category", 
-   "fieldtype": "Link", 
-   "hidden": 0, 
-   "ignore_user_permissions": 0, 
-   "ignore_xss_filter": 0, 
-   "in_filter": 0, 
-   "in_list_view": 0, 
-   "label": "Asset Category", 
-   "length": 0, 
-   "no_copy": 0, 
-   "options": "Asset Category", 
-   "permlevel": 0, 
-   "precision": "", 
-   "print_hide": 0, 
-   "print_hide_if_no_value": 0, 
-   "read_only": 0, 
-   "report_hide": 0, 
-   "reqd": 1, 
-   "search_index": 0, 
-   "set_only_once": 0, 
-   "unique": 0
-  }, 
-  {
-   "allow_on_submit": 0, 
-   "bold": 0, 
-   "collapsible": 0, 
    "fieldname": "item_code", 
    "fieldtype": "Link", 
    "hidden": 0, 
@@ -91,6 +65,32 @@
    "allow_on_submit": 0, 
    "bold": 0, 
    "collapsible": 0, 
+   "fieldname": "asset_category", 
+   "fieldtype": "Link", 
+   "hidden": 0, 
+   "ignore_user_permissions": 0, 
+   "ignore_xss_filter": 0, 
+   "in_filter": 0, 
+   "in_list_view": 0, 
+   "label": "Asset Category", 
+   "length": 0, 
+   "no_copy": 0, 
+   "options": "Asset Category", 
+   "permlevel": 0, 
+   "precision": "", 
+   "print_hide": 0, 
+   "print_hide_if_no_value": 0, 
+   "read_only": 1, 
+   "report_hide": 0, 
+   "reqd": 0, 
+   "search_index": 0, 
+   "set_only_once": 0, 
+   "unique": 0
+  }, 
+  {
+   "allow_on_submit": 0, 
+   "bold": 0, 
+   "collapsible": 0, 
    "default": "Draft", 
    "fieldname": "status", 
    "fieldtype": "Select", 
@@ -733,13 +733,14 @@
  "hide_toolbar": 0, 
  "idx": 72, 
  "image_field": "image", 
+ "image_view": 0, 
  "in_create": 0, 
  "in_dialog": 0, 
  "is_submittable": 1, 
  "issingle": 0, 
  "istable": 0, 
  "max_attachments": 0, 
- "modified": "2016-05-30 18:09:56.158782", 
+ "modified": "2016-07-05 12:54:38.585259", 
  "modified_by": "Administrator", 
  "module": "Accounts", 
  "name": "Asset", 
diff --git a/erpnext/accounts/doctype/asset/asset.py b/erpnext/accounts/doctype/asset/asset.py
index 23bb08b..366a02c 100644
--- a/erpnext/accounts/doctype/asset/asset.py
+++ b/erpnext/accounts/doctype/asset/asset.py
@@ -30,9 +30,16 @@
 		self.set_status()
 
 	def validate_item(self):
-		item = frappe.get_doc("Item", self.item_code)
-		if item.disabled:
+		item = frappe.db.get_value("Item", self.item_code, 
+			["is_fixed_asset", "is_stock_item", "disabled"], as_dict=1)
+		if not item:
+			frappe.throw(_("Item {0} does not exist").format(self.item_code))
+		elif item.disabled:
 			frappe.throw(_("Item {0} has been disabled").format(self.item_code))
+		elif not item.is_fixed_asset:
+			frappe.throw(_("Item {0} must be a Fixed Asset Item").format(self.item_code))
+		elif item.is_stock_item:
+			frappe.throw(_("Item {0} must be a non-stock item").format(self.item_code))
 
 	def validate_asset_values(self):
 		self.value_after_depreciation = flt(self.gross_purchase_amount) - flt(self.opening_accumulated_depreciation)
@@ -203,4 +210,17 @@
 	
 	frappe.db.commit()
 	
-	frappe.msgprint(_("Asset Movement record {0} created").format("<a href='#Form/Asset Movement/{0}'>{0}</a>".format(movement_entry.name)))
\ No newline at end of file
+	frappe.msgprint(_("Asset Movement record {0} created").format("<a href='#Form/Asset Movement/{0}'>{0}</a>".format(movement_entry.name)))
+	
+@frappe.whitelist()
+def get_item_details(item_code):
+	asset_category = frappe.db.get_value("Item", item_code, "asset_category")
+	
+	ret = frappe.db.get_value("Asset Category", asset_category, 
+		["depreciation_method", "total_number_of_depreciations", "frequency_of_depreciation"], as_dict=1)
+		
+	ret.update({
+		"asset_category": asset_category
+	})
+		
+	return ret
\ No newline at end of file