2nd hand laptop purchase - receipt

[kingcook]

Looking at buying a 2nd hand laptop (from a mate) as a company expense (yes - it's to be used exclusively for business use).

I'd need a receipt, right? What info has to be shown on the receipt as a bare minimum for accounting purposes?

[captainham]

I'd probably just go for a signed letter from your mate stating the item description, price and date of transaction (stating transfer of ownership to your company), plus maybe an eBay printout of a similar spec machine (from the completed listings of course) as a backup (to show impartial second-hand valuation).