diff --git a/erpnext/assets/doctype/asset/asset.js b/erpnext/assets/doctype/asset/asset.js
index b8185c929e..8f5b85d1b2 100644
--- a/erpnext/assets/doctype/asset/asset.js
+++ b/erpnext/assets/doctype/asset/asset.js
@@ -135,6 +135,10 @@ frappe.ui.form.on('Asset', {
 				}, __("Manage"));
 			}
 
+			if (frm.doc.depr_entry_posting_status === "Failed") {
+				frm.trigger("set_depr_posting_failure_alert");
+			}
+
 			frm.trigger("setup_chart");
 		}
 
@@ -145,6 +149,19 @@ frappe.ui.form.on('Asset', {
 		}
 	},
 
+	set_depr_posting_failure_alert: function (frm) {
+		const alert = `
+			<div class="row">
+				<div class="col-xs-12 col-sm-6">
+					<span class="indicator whitespace-nowrap red">
+						<span>Failed to post depreciation entries</span>
+					</span>
+				</div>
+			</div>`;
+
+		frm.dashboard.set_headline_alert(alert);
+	},
+
 	toggle_reference_doc: function(frm) {
 		if (frm.doc.purchase_receipt && frm.doc.purchase_invoice && frm.doc.docstatus === 1) {
 			frm.set_df_property('purchase_invoice', 'read_only', 1);
diff --git a/erpnext/assets/doctype/asset/asset.json b/erpnext/assets/doctype/asset/asset.json
index 8649a80c79..2ea8a5667b 100644
--- a/erpnext/assets/doctype/asset/asset.json
+++ b/erpnext/assets/doctype/asset/asset.json
@@ -68,6 +68,7 @@
   "column_break_51",
   "purchase_receipt_amount",
   "default_finance_book",
+  "depr_entry_posting_status",
   "amended_from"
  ],
  "fields": [
@@ -473,6 +474,16 @@
    "fieldtype": "Int",
    "label": "Asset Quantity",
    "read_only_depends_on": "eval:!doc.is_existing_asset"
+  },
+  {
+   "fieldname": "depr_entry_posting_status",
+   "fieldtype": "Select",
+   "hidden": 1,
+   "label": "Depreciation Entry Posting Status",
+   "no_copy": 1,
+   "options": "Successful\nFailed",
+   "print_hide": 1,
+   "read_only": 1
   }
  ],
  "idx": 72,
@@ -500,7 +511,7 @@
    "link_fieldname": "asset"
   }
  ],
- "modified": "2023-01-16 12:01:00.502301",
+ "modified": "2023-01-16 21:16:54.435493",
  "modified_by": "Administrator",
  "module": "Assets",
  "name": "Asset",
diff --git a/erpnext/assets/doctype/asset/depreciation.py b/erpnext/assets/doctype/asset/depreciation.py
index 97deea6f33..5337fd64ee 100644
--- a/erpnext/assets/doctype/asset/depreciation.py
+++ b/erpnext/assets/doctype/asset/depreciation.py
@@ -5,6 +5,7 @@
 import frappe
 from frappe import _
 from frappe.utils import add_months, cint, flt, get_link_to_form, getdate, nowdate, today
+from frappe.utils.user import get_users_with_role
 
 from erpnext.accounts.doctype.accounting_dimension.accounting_dimension import (
 	get_checks_for_pl_and_bs_accounts,
@@ -18,7 +19,7 @@ from erpnext.assets.doctype.asset_depreciation_schedule.asset_depreciation_sched
 )
 
 
-def post_depreciation_entries(date=None, commit=True):
+def post_depreciation_entries(date=None):
 	# Return if automatic booking of asset depreciation is disabled
 	if not cint(
 		frappe.db.get_value("Accounts Settings", None, "book_asset_depreciation_entry_automatically")
@@ -27,13 +28,24 @@ def post_depreciation_entries(date=None, commit=True):
 
 	if not date:
 		date = today()
+
+	failed_asset_names = []
+
 	for asset_name in get_depreciable_assets(date):
 		asset_doc = frappe.get_doc("Asset", asset_name)
 
-		make_depreciation_entry_for_all_asset_depr_schedules(asset_doc, date)
-
-		if commit:
+		try:
+			make_depreciation_entry_for_all_asset_depr_schedules(asset_doc, date)
 			frappe.db.commit()
+		except Exception as e:
+			frappe.db.rollback()
+			failed_asset_names.append(asset_name)
+
+	if failed_asset_names:
+		set_depr_entry_posting_status_for_failed_assets(failed_asset_names)
+		notify_depr_entry_posting_error(failed_asset_names)
+
+	frappe.db.commit()
 
 
 def get_depreciable_assets(date):
@@ -146,6 +158,8 @@ def make_depreciation_entry(asset_depr_schedule_name, date=None):
 			row.value_after_depreciation -= d.depreciation_amount
 			row.db_update()
 
+	frappe.db.set_value("Asset", asset_name, "depr_entry_posting_status", "Successful")
+
 	asset.set_status()
 
 	return asset_depr_schedule_doc
@@ -209,6 +223,42 @@ def get_credit_and_debit_accounts(accumulated_depreciation_account, depreciation
 	return credit_account, debit_account
 
 
+def set_depr_entry_posting_status_for_failed_assets(failed_asset_names):
+	for asset_name in failed_asset_names:
+		frappe.db.set_value("Asset", asset_name, "depr_entry_posting_status", "Failed")
+
+
+def notify_depr_entry_posting_error(failed_asset_names):
+	recipients = get_users_with_role("Accounts Manager")
+
+	if not recipients:
+		recipients = get_users_with_role("System Manager")
+
+	subject = _("Error while posting depreciation entries")
+
+	asset_links = get_comma_separated_asset_links(failed_asset_names)
+
+	message = (
+		_("Hi,")
+		+ "<br>"
+		+ _("The following assets have failed to post depreciation entries: {0}").format(asset_links)
+		+ "."
+	)
+
+	frappe.sendmail(recipients=recipients, subject=subject, message=message)
+
+
+def get_comma_separated_asset_links(asset_names):
+	asset_links = []
+
+	for asset_name in asset_names:
+		asset_links.append(get_link_to_form("Asset", asset_name))
+
+	asset_links = ", ".join(asset_links)
+
+	return asset_links
+
+
 @frappe.whitelist()
 def scrap_asset(asset_name):
 	asset = frappe.get_doc("Asset", asset_name)
diff --git a/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.json b/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.json
index af09cda8fb..898c482079 100644
--- a/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.json
+++ b/erpnext/assets/doctype/asset_depreciation_schedule/asset_depreciation_schedule.json
@@ -159,7 +159,7 @@
  "index_web_pages_for_search": 1,
  "is_submittable": 1,
  "links": [],
- "modified": "2023-01-02 15:38:30.766779",
+ "modified": "2023-01-16 21:08:21.421260",
  "modified_by": "Administrator",
  "module": "Assets",
  "name": "Asset Depreciation Schedule",