Company device purchase records should establish who bought the equipment, how it was paid for and who will hold it. Set this up when a new company buys its first laptop, phone or similar device. A staff member using the device does not by itself establish whether it belongs to the company or to that person.

Hands signing a document at an office desk
Illustrative photograph by Pavel Danilyuk.

Identify the buyer and transaction

Keep the accepted order, supplier invoice, company details and payment evidence. If a founder paid personally, identify the actual purchaser and proposed reimbursement route rather than assuming every receipt is a company invoice.

Record any bundle containing hardware, software, support or accessories. Give the accountant sufficient detail to assess the components.

Create a practical custody record

Record the device description, serial number, purchase date and assigned custodian through the approved internal process. Keep receipt and handover evidence together.

Separate company ownership from a subscription account, warranty registration or login controlled by an individual. Do not record passwords or recovery codes in the public equipment register.

Example: the device goes straight to a new employee

The supplier delivers the laptop directly to a staff member. Obtain delivery and acceptance evidence and reconcile the serial number to the purchase record. A delivery address alone does not show who approved the purchase or what the employee must return when custody ends.

Hand over to finance and administration

Give finance the purchase and payment pack and ask about asset or expense treatment under the company’s accounting policy. Assign responsibility for warranty, return and disposal records. Keep technical access and employment arrangements separately authorised. Completing a custody sheet does not determine tax deductibility, grant eligibility or a universal asset-capitalisation threshold.

Related practical guidance

For the surrounding records and responsibilities, see bookkeeping basics, company records to keep, bookkeeping and accounting.

Official guidance: IRAS official guidance.

Help with your company records

For corporate secretarial and company administration support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.