Cost Accountant

Octopus Energy Ltd; City of Westminster; On-site; GBP 30,000 - 45,000; Full time

Job summary

A leading energy services provider is seeking a motivated Cost Accountant to join their Finance team in Westminster. The role involves preparing financial reports, managing month-end processes, and ensuring compliance with accounting standards. Candidates should hold a relevant degree and be studying towards a professional qualification. Strong Excel skills and experience in a cost accounting role are essential. The position offers a chance to impact financial operations and inventory management in a dynamic environment.

Qualifications

• 1-2 years experience in a cost accounting or similar role.
• Experience in a business with a physical inventory component preferable.
• Strong IT skills, including data analysis.

Responsibilities

• Daily transaction posting for inventory-related transactions.
• Preparing monthly divisional and consolidated management accounts.
• Perform balance sheet reconciliations to ensure integrity of records.

Skills

Advanced Excel skills

Communication to senior management

Attention to detail

Proactive and self-motivated

Education

Degree in Accounting, Finance, or related field

Part-qualified or actively studying towards a qualification (AAT, ACCA, CIMA, ACA, or ICAS)

Tools

NetSuite

Job description

Overview

We are seeking a motivated and detail-oriented Cost Accountant to join our growing Finance team at Octopus Energy Services. This role will report to the Finance Business Partner - Supply Chain and play a crucial role in the day-to-day financial operations of the company. This role will entail preparation of financial reports, month-end processes, and ensuring compliance with relevant accounting standards. You will be working closely with the business to assist with day-to-day finance management and identifying any commercial risks or opportunities to improve the business's position. The ideal candidate will have a strong understanding of fundamental accounting and be keen to develop their skills in a fast-paced environment.

Responsibilities

• Daily transaction posting including accurately processing all inventory-related transactions, including purchases, transfers to engineers, returns, and write-offs, ensuring they are correctly reflected in the general ledger.
• Preparing monthly divisional and consolidated management accounts, including assisting in the calculation and review of the monthly Cost of Goods Sold, ensuring accurate cost allocations for installed items.
• Reconcile physical stock counts with perpetual inventory records (both quantity and value) and investigate any variances or discrepancies promptly.
• Support the team in periodic reviews of inventory valuation, including obsolescence and net realisable value assessments.
• Perform balance sheet reconciliations to ensure integrity of the general ledger and financial records, with a primary focus on inventory.
• Reviewing finance processes to ensure that continuous improvements are made to improve inventory tracking and control.
• Liaising with finance representatives to finalise results, reporting on variances as required and providing clear documentation and corrective journal entries where necessary.
• Assist with the preparation of year‑end reconciliations and schedules, and working closely with our auditors throughout the year‑end audit.
• Provide forecasting and KPI support: compiling data for the monthly re‑forecasting, annual budgeting process, KPI tracking for the Supply Chain division.

Qualifications

• A relevant degree in Accounting, Finance, or a related field (or equivalent practical experience).
• Part‑qualified or actively studying towards a professional accounting qualification (AAT, ACCA, CIMA, ACA or ICAS).
• 1–2 years experience in a cost accounting or similar role.
• Experience in a business with a physical inventory component preferable (e.g., retail, manufacturing, or services with hardware installation).
• Strong IT skills including advanced Excel skills such as complex formulas and data analysis.
• Must be able to effectively and confidently communicate and present to senior management, both within finance and operational teams.
• Proactive and self‑motivated with a high level of attention to detail and accuracy.
• Experience with financial accounting software (NetSuite) would be preferable.