In the Fixed Assets work center, in the Fixed Assets view, select the fixed asset and check that the status is set to Capitalized. What are the GL Entries that occur in Asset Accounting?Sales of asset purchase of asset, scraping of asset, Deprecation posting, transfer of an asset. In this course today we will cover everything you need to know about sap from its fundamentals to Advanced functionalities. ABAON is used when you are retiring an asset and also entering a revenue. This is used when there is no customer involved. The presentation outlined the steps for fixed asset retirement in SAP.