diff --git a/erpnext/assets/doctype/asset/asset.py b/erpnext/assets/doctype/asset/asset.py
index 50e2fa997ce412dd902281c10539357a971fd79c..89f21bdd4436f70d0573a2c0ae6f7afd4e072120 100644
--- a/erpnext/assets/doctype/asset/asset.py
+++ b/erpnext/assets/doctype/asset/asset.py
@@ -129,6 +129,8 @@ class Asset(AccountsController):
 		self.set_missing_values()
 		self.validate_gross_and_purchase_amount()
 		self.validate_finance_books()
+
+	def before_save(self):
 		self.total_asset_cost = self.net_purchase_amount + self.additional_asset_cost
 		self.status = self.get_status()
 
diff --git a/erpnext/controllers/buying_controller.py b/erpnext/controllers/buying_controller.py
index f17f4af959aea70d27dc03c7b587c764455b7e5f..b13bca3ca362791d70f5be179734f86ad21d6dac 100644
--- a/erpnext/controllers/buying_controller.py
+++ b/erpnext/controllers/buying_controller.py
@@ -1047,6 +1047,7 @@ class BuyingController(SubcontractingController):
 				"asset_category": item_data.get("asset_category"),
 				"location": row.asset_location,
 				"company": self.company,
+				"status": "Draft",
 				"supplier": self.supplier,
 				"purchase_date": self.posting_date,
 				"calculate_depreciation": 0,
diff --git a/erpnext/patches.txt b/erpnext/patches.txt
index 2b6af394dbe650f6fed150a7f5d1f9f966486299..0ef51ed474099e4a869cfc4ffd1441ce65089400 100644
--- a/erpnext/patches.txt
+++ b/erpnext/patches.txt
@@ -479,4 +479,5 @@ erpnext.patches.v16_0.set_reporting_currency
 erpnext.patches.v16_0.set_posting_datetime_for_sabb_and_drop_indexes
 erpnext.patches.v16_0.update_serial_no_reference_name
 erpnext.patches.v16_0.rename_subcontracted_quantity
-erpnext.patches.v16_0.add_new_stock_entry_types
\ No newline at end of file
+erpnext.patches.v16_0.add_new_stock_entry_types
+erpnext.patches.v15_0.set_asset_status_if_not_already_set
diff --git a/erpnext/patches/v15_0/set_asset_status_if_not_already_set.py b/erpnext/patches/v15_0/set_asset_status_if_not_already_set.py
new file mode 100644
index 0000000000000000000000000000000000000000..ac0af708de48fb201f65ce054c8624f3e316b6ac
--- /dev/null
+++ b/erpnext/patches/v15_0/set_asset_status_if_not_already_set.py
@@ -0,0 +1,13 @@
+import frappe
+from frappe.query_builder import DocType
+
+
+def execute():
+	Asset = DocType("Asset")
+
+	query = (
+		frappe.qb.update(Asset)
+		.set(Asset.status, "Draft")
+		.where((Asset.docstatus == 0) & ((Asset.status.isnull()) | (Asset.status == "")))
+	)
+	query.run()