diff --git a/erpnext/assets/doctype/asset/asset.js b/erpnext/assets/doctype/asset/asset.js
index 8287401105..01577eba77 100644
--- a/erpnext/assets/doctype/asset/asset.js
+++ b/erpnext/assets/doctype/asset/asset.js
@@ -23,6 +23,14 @@ frappe.ui.form.on('Asset', {
 				}
 			};
 		});
+
+		frm.set_query("cost_center", function() {
+			return {
+				"filters": {
+					"company": frm.doc.company,
+				}
+			};
+		});
 	},
 
 	refresh: function(frm) {
diff --git a/erpnext/assets/doctype/asset/asset.json b/erpnext/assets/doctype/asset/asset.json
index 45c9a65c37..f2efb09820 100644
--- a/erpnext/assets/doctype/asset/asset.json
+++ b/erpnext/assets/doctype/asset/asset.json
@@ -415,6 +415,37 @@
    "set_only_once": 0, 
    "unique": 0
   }, 
+  {
+   "allow_bulk_edit": 0, 
+   "allow_on_submit": 0, 
+   "bold": 0, 
+   "collapsible": 0, 
+   "columns": 0, 
+   "fieldname": "cost_center", 
+   "fieldtype": "Link", 
+   "hidden": 0, 
+   "ignore_user_permissions": 0, 
+   "ignore_xss_filter": 0, 
+   "in_filter": 0, 
+   "in_global_search": 0, 
+   "in_list_view": 0, 
+   "in_standard_filter": 0, 
+   "label": "Cost Center", 
+   "length": 0, 
+   "no_copy": 0, 
+   "options": "Cost Center", 
+   "permlevel": 0, 
+   "precision": "", 
+   "print_hide": 0, 
+   "print_hide_if_no_value": 0, 
+   "read_only": 0, 
+   "remember_last_selected_value": 0, 
+   "report_hide": 0, 
+   "reqd": 0, 
+   "search_index": 0, 
+   "set_only_once": 0, 
+   "unique": 0
+  }, 
   {
    "allow_bulk_edit": 0, 
    "allow_on_submit": 0, 
@@ -1221,7 +1252,7 @@
  "issingle": 0, 
  "istable": 0, 
  "max_attachments": 0, 
- "modified": "2017-12-19 12:58:44.137460", 
+ "modified": "2018-07-17 06:30:25.506194", 
  "modified_by": "Administrator", 
  "module": "Assets", 
  "name": "Asset", 
diff --git a/erpnext/assets/doctype/asset/depreciation.py b/erpnext/assets/doctype/asset/depreciation.py
index 92a251e4fa..acd5892cd6 100644
--- a/erpnext/assets/doctype/asset/depreciation.py
+++ b/erpnext/assets/doctype/asset/depreciation.py
@@ -38,7 +38,7 @@ def make_depreciation_entry(asset_name, date=None):
 
 	depreciation_cost_center, depreciation_series = frappe.db.get_value("Company", asset.company,
 		["depreciation_cost_center", "series_for_depreciation_entry"])
-	
+	depreciation_cost_center = asset.cost_center or depreciation_cost_center
 
 	for d in asset.get("schedules"):
 		if not d.journal_entry and getdate(d.schedule_date) <= getdate(date):
@@ -154,6 +154,7 @@ def restore_asset(asset_name):
 def get_gl_entries_on_asset_disposal(asset, selling_amount=0):
 	fixed_asset_account, accumulated_depr_account, depr_expense_account = get_depreciation_accounts(asset)
 	disposal_account, depreciation_cost_center = get_disposal_account_and_cost_center(asset.company)
+	depreciation_cost_center = asset.cost_center or depreciation_cost_center
 
 	accumulated_depr_amount = flt(asset.gross_purchase_amount) - flt(asset.value_after_depreciation)