How to Post Inventory Count and Inventory Journal Entries in Compeat

Learn the step-by-step process of posting inventory and inventory journal entries using Compeat

23 Apr 2025 By Kelsey Meyer

In this guide, we'll learn how to post inventory after unit managers have completed their inventory counts. This process involves verifying the inventory count, ensuring the totals fall within expected ranges, and posting the inventory journal entries. The goal is to maintain consistency and accuracy in inventory records by checking for discrepancies and confirming that all entries are correctly posted.

Let's get started

We will post inventory after the unit managers have counted it. This occurs every week on Monday. Once the inventory count is complete, the ADOs will notify us by email. We then need to post the count and post the journal entries. This is done within each entity individually. In this example we will start with 554 One Loudoun.

Step #1: Click on "554 - One Loudoun" — Click on "554 - One Loudoun"

Step #2: Click on "Valuation Counts" — Click on "Valuation Counts"

Step #3: The date automatically populates with the last day of the previous week. If a different date appears, it may indicate that last week's count wasn't posted or that this week's count has already been posted. Check that you are looking at the correct week's count. Click on "OK" — The date automatically populates with the last day of the previous week. If a different date appears, it may indicate that last week's count wasn't posted or that this week's count has already been posted. Check that you are looking at the correct week's count.

Click on "OK"

Step #4: This opens the inventory count screen, where the managers enter their inventory counts. Now we want to run the pre-post report to view the inventory valuations and identify any potential typos in the counts. Click on "Pre-Post" — This opens the inventory count screen, where the managers enter their inventory counts. Now we want to run the pre-post report to view the inventory valuations and identify any potential typos in the counts.

Click on "Pre-Post"

Step #5: The report options auto populate and you can leave them as they are. Click Preview to display the report on the screen. Click on "Preview" — The report options auto populate and you can leave them as they are. Click Preview to display the report on the screen.

Click on "Preview"

Step #6: Ensure everything appears normal. For instance, claiming to have a thousand watermelons would be unusual and a red flag. Briefly scroll through and check that the count and value makes sense for the items. — Ensure everything appears normal. For instance, claiming to have a thousand watermelons would be unusual and a red flag. Briefly scroll through and check that the count and value makes sense for the items.

Step #7: Review the total at the bottom of the report—it should show between $20,000 and $40,000 in inventory. If the total falls outside this range, there may be an issue, and the numbers should be reviewed carefully. Report any unusual figures to the unit managers so they can double-check and confirm their count. — Review the total at the bottom of the report—it should show between $20,000 and $40,000 in inventory. If the total falls outside this range, there may be an issue, and the numbers should be reviewed carefully. Report any unusual figures to the unit managers so they can double-check and confirm their count.

Step #8: Once you've done that, you can close close this window. — Once you've done that, you can close close this window.

Step #9: If all is accurate, click "Post" on the Inventory Counts screen. — If all is accurate, click "Post" on the Inventory Counts screen.

Step #10: Confirm the date is still accurate and click on "OK" — Confirm the date is still accurate and click on "OK"

Step #11: Occasionally you will see this pop-up. These are AP batches that have not been posted yet. That's fine because our managers should not use the AP invoices to count their inventory so this is irrelevant for our count procedure. It will ask, "Do you want to continue?" You will click on "Yes." — Occasionally you will see this pop-up. These are AP batches that have not been posted yet. That's fine because our managers should not use the AP invoices to count their inventory so this is irrelevant for our count procedure. It will ask, "Do you want to continue?" You will click on "Yes."

Posting the count auto-creates the Inventory Journal Entry, which we now need to post.

Step #13: Click on "Inventory JE" — Click on "Inventory JE"

Step #14: The most recent JE is always at the bottom on the pop-up. It doesn't have a blue checkmark because it hasn't been posted yet. — The most recent JE is always at the bottom on the pop-up. It doesn't have a blue checkmark because it hasn't been posted yet.

Step #15: Select the entry you want to review and click "OK." — Select the entry you want to review and click "OK."

Here you can see the inventory valuation from last week and the valuation from this week. Ensure there are no discrepancies.

Step #16: For example, tequila. Last week, they had about $2,000 in tequila inventory. This week, it is $1,900. That's quite similar. One thing to watch for is if there's a sudden jump, like one week they spent $2,000 on tequila and the next week it jumped to $10,000. That likely indicates someone may have counted something incorrectly. — For example, tequila. Last week, they had about $2,000 in tequila inventory. This week, it is $1,900. That's quite similar. One thing to watch for is if there's a sudden jump, like one week they spent $2,000 on tequila and the next week it jumped to $10,000. That likely indicates someone may have counted something incorrectly.

If you suspect an error, report any unusual figures to the unit managers so they can double-check and confirm their count. If a correction is needed, return to the Inventory Valuation screen and un-post the inventory. Then, re-open the Inventory Journal Entry and delete it. Important: Do not un-post multiple weeks. Reversing several weeks will cause the inventory counts from subsequent weeks to be lost.

Step #17: Click "Unpost" to unpost the counts. — Click "Unpost" to unpost the counts.

Step #18: This pop-up will appear. Confirm you are un-posting the correct date and click "Yes" — This pop-up will appear. Confirm you are un-posting the correct date and click "Yes"

Step #19: Open the Inventory JE screen and click the red "X" to delete the JE. — Open the Inventory JE screen and click the red "X" to delete the JE.

The inventory counts can now be edited by the unit managers. Once everything is accurate, re-post the count and reopen the Inventory Journal Entry screen. After confirming all numbers are correct—or if no changes were needed, which is typically the case—proceed with the next steps.

Step #20: Compare the total dollar amounts at the bottom of the JE screen from last week to this week.In this example, last week they had $39,000 in inventory, and this week they have $38,000. These numbers are similar and therefore the JE can be posted. — Compare the total dollar amounts at the bottom of the JE screen from last week to this week.

In this example, last week they had $39,000 in inventory, and this week they have $38,000. These numbers are similar and therefore the JE can be posted.

Step #22: Click on "Yes" — Click on "Yes"

The inventory JE has now been posted and the process is complete for this unit. Repeat the steps in this guide for each unit individually. After inventory has been posted for each entity, notify the ADOs by email. This process should be completed as soon as possible, no later than end of day Monday.