diff --git a/erpnext/assets/doctype/asset/test_asset.py b/erpnext/assets/doctype/asset/test_asset.py
index 25d0105..254ebf9 100644
--- a/erpnext/assets/doctype/asset/test_asset.py
+++ b/erpnext/assets/doctype/asset/test_asset.py
@@ -234,7 +234,11 @@
 			asset.precision("gross_purchase_amount"),
 		)
 		pro_rata_amount, _, _ = _get_pro_rata_amt(
-			asset.finance_books[0], 9000, get_last_day(add_months(purchase_date, 1)), date
+			asset.finance_books[0],
+			9000,
+			get_last_day(add_months(purchase_date, 1)),
+			date,
+			original_schedule_date=get_last_day(nowdate()),
 		)
 		pro_rata_amount = flt(pro_rata_amount, asset.precision("gross_purchase_amount"))
 		self.assertEquals(
@@ -316,7 +320,11 @@
 		self.assertEquals(first_asset_depr_schedule.status, "Cancelled")
 
 		pro_rata_amount, _, _ = _get_pro_rata_amt(
-			asset.finance_books[0], 9000, get_last_day(add_months(purchase_date, 1)), date
+			asset.finance_books[0],
+			9000,
+			get_last_day(add_months(purchase_date, 1)),
+			date,
+			original_schedule_date=get_last_day(nowdate()),
 		)
 		pro_rata_amount = flt(pro_rata_amount, asset.precision("gross_purchase_amount"))
 
@@ -334,7 +342,6 @@
 			),
 			("Debtors - _TC", 25000.0, 0.0),
 		)
-
 		gle = get_gl_entries("Sales Invoice", si.name)
 		self.assertSequenceEqual(gle, expected_gle)
 
@@ -380,7 +387,7 @@
 
 		self.assertEqual(frappe.db.get_value("Asset", asset.name, "status"), "Sold")
 
-		expected_values = [["2023-03-31", 12000, 36000], ["2023-05-23", 1742.47, 37742.47]]
+		expected_values = [["2023-03-31", 12000, 36000], ["2023-05-23", 1737.7, 37737.7]]
 
 		second_asset_depr_schedule = get_depr_schedule(asset.name, "Active")
 
@@ -393,7 +400,7 @@
 		expected_gle = (
 			(
 				"_Test Accumulated Depreciations - _TC",
-				37742.47,
+				37737.7,
 				0.0,
 			),
 			(
@@ -404,7 +411,7 @@
 			(
 				"_Test Gain/Loss on Asset Disposal - _TC",
 				0.0,
-				17742.47,
+				17737.7,
 			),
 			("Debtors - _TC", 40000.0, 0.0),
 		)
@@ -715,25 +722,24 @@
 		)
 
 		expected_schedules = [
-			["2023-01-31", 1021.98, 1021.98],
-			["2023-02-28", 923.08, 1945.06],
-			["2023-03-31", 1021.98, 2967.04],
-			["2023-04-30", 989.01, 3956.05],
-			["2023-05-31", 1021.98, 4978.03],
-			["2023-06-30", 989.01, 5967.04],
-			["2023-07-31", 1021.98, 6989.02],
-			["2023-08-31", 1021.98, 8011.0],
-			["2023-09-30", 989.01, 9000.01],
-			["2023-10-31", 1021.98, 10021.99],
-			["2023-11-30", 989.01, 11011.0],
-			["2023-12-31", 989.0, 12000.0],
+			["2023-01-31", 1019.18, 1019.18],
+			["2023-02-28", 920.55, 1939.73],
+			["2023-03-31", 1019.18, 2958.91],
+			["2023-04-30", 986.3, 3945.21],
+			["2023-05-31", 1019.18, 4964.39],
+			["2023-06-30", 986.3, 5950.69],
+			["2023-07-31", 1019.18, 6969.87],
+			["2023-08-31", 1019.18, 7989.05],
+			["2023-09-30", 986.3, 8975.35],
+			["2023-10-31", 1019.18, 9994.53],
+			["2023-11-30", 986.3, 10980.83],
+			["2023-12-31", 1019.17, 12000.0],
 		]
 
 		schedules = [
 			[cstr(d.schedule_date), d.depreciation_amount, d.accumulated_depreciation_amount]
 			for d in get_depr_schedule(asset.name, "Draft")
 		]
-
 		self.assertEqual(schedules, expected_schedules)
 
 	def test_schedule_for_straight_line_method_for_existing_asset(self):
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 7fec35e..5eb7a3f 100644
--- a/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.py
+++ b/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.py
@@ -581,16 +581,13 @@
 		total_days = get_total_days(original_schedule_date or to_date, 12)
 	else:
 		total_days = get_total_days(original_schedule_date or to_date, row.frequency_of_depreciation)
-
 	return (depreciation_amount * flt(days)) / flt(total_days), days, months
 
 
 def get_total_days(date, frequency):
 	period_start_date = add_months(date, cint(frequency) * -1)
-
-	if not is_last_day_of_the_month(date):
+	if is_last_day_of_the_month(date):
 		period_start_date = get_last_day(period_start_date)
-
 	return date_diff(date, period_start_date)
 
 
@@ -686,22 +683,30 @@
 	# if the Depreciation Schedule is being prepared for the first time
 	else:
 		if row.daily_prorata_based:
-			daily_depr_amount = (
+			amount = (
 				flt(asset.gross_purchase_amount)
 				- flt(asset.opening_accumulated_depreciation)
 				- flt(row.expected_value_after_useful_life)
-			) / date_diff(
-				get_last_day(
-					add_months(
-						row.depreciation_start_date,
-						flt(row.total_number_of_depreciations - asset.number_of_depreciations_booked - 1)
-						* row.frequency_of_depreciation,
-					)
-				),
-				add_days(
-					get_last_day(add_months(row.depreciation_start_date, -1 * row.frequency_of_depreciation)), 1
-				),
-			) + 1
+			)
+
+			total_days = (
+				date_diff(
+					get_last_day(
+						add_months(
+							row.depreciation_start_date,
+							flt(row.total_number_of_depreciations - asset.number_of_depreciations_booked - 1)
+							* row.frequency_of_depreciation,
+						)
+					),
+					add_days(
+						get_last_day(add_months(row.depreciation_start_date, -1 * row.frequency_of_depreciation)), 1
+					),
+				)
+				+ 1
+			)
+
+			daily_depr_amount = amount / total_days
+
 			to_date = get_last_day(
 				add_months(row.depreciation_start_date, schedule_idx * row.frequency_of_depreciation)
 			)