Buying a second hand PC

[Carey]

Hi,

My mate has just bought a new PC (he has to upgrade completely every 6 months or so to play latest games...) and is willing to sell old one, which is of great spec, with 2 monitors for £200. I'm looking for a new PC anyway for the business so have taken up his offer.

How do I go about entering this in my accounts? I'll be buying with company money and having it as an asset, but he won't be giving an invoice or a receipt. So what do I do exactly?

Thanks

[Dawg]

Hi,

My mate has just bought a new PC (he has to upgrade completely every 6 months or so to play latest games...) and is willing to sell old one, which is of great spec, with 2 monitors for £200. I'm looking for a new PC anyway for the business so have taken up his offer.

How do I go about entering this in my accounts? I'll be buying with company money and having it as an asset, but he won't be giving an invoice or a receipt. So what do I do exactly?

Thanks

Tell him to give you a receipt. Altho' at that price it looks a tad hooky and if you want a hooky computer you could a) spoof your own receipt, b) spoof your own receipt with his details on, or c) swallow the tax liabilities of a £200 purchase. None of these options will let you prove ownership should Plod come calling, or if it is damaged or stolen whilst insured. But it's only £200, so you could just punt it.
Why on earth can't he give you a receipt?

[Carey]

Hooky? There's nothing hooky about it. He's one of my closest friends, I was there when he bought the thing not too long ago and he's doing me a favour giving it to me for that price.

The police won't come calling, there's absolutely nothing dodgy about this whole deal as you seem to imagine.

It's not that he can't give me a receipt I guess, but when you sell something to a friend do you go and write up a receipt? I doubt it. So making one up, could I just make an invoice with his name and address, saying what the item is and the price paid?

[CassioAcc]

Just get a receipt for your records to show what you have paid for and for £200 just put it through your expenses rather than as an asset.

[weebly_one]

As the guy is such a goodfriend - I would just either type up a reciept myself and ask him/her to sign and date it for me, or ask them to just write a note and sign and date as your record. I would then enter it as normal, but obviously with no VAT involved in the transaction.

All above board - no problem - you just have a signed note from them to show in your records in case of any inspections etc.