Cost Accountant

Octopus Energy Group; Greater London; On-site; GBP 60,000 - 80,000; Full time

Job summary

A leading energy services provider in Greater London is seeking a motivated Cost Accountant to join its Finance team. The ideal candidate will manage financial reports, month-end processes, and assist in daily finance management. Key responsibilities include transaction posting, preparing management accounts, and reconciling inventory. Candidates should hold a relevant degree and have accounting qualifications in progress, along with strong Excel skills. Join a dynamic company recognized as one of the best places to work.

Qualifications

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

Responsibilities

• Daily transaction posting and inventory transaction processing.
• Preparing monthly management accounts including cost of goods sold.
• Reconcile stock counts with inventory records and investigate variances.

Skills

Accounting knowledge

Advanced Excel skills

Communication skills

Attention to detail

Proactive attitude

Education

Relevant degree in Accounting or Finance

Part-qualified or studying towards AAT, ACCA, CIMA, ACA, or ICAS

Tools

NetSuite

Job description

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’ position. The ideal candidate will have a strong understanding of fundamental accounting and be keen to develop their skills in a fast‑paced environment.

What you’ll do

• Daily transaction posting including accurately processing all inventory‑related transactions, 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.
• Review 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.

What you’ll need

• 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.

Why else you’ll love it here

Wondering what the salary for this role is? Just ask us! On a call with one of our recruiters it's something we always cover as we genuinely want to match your experience with the correct salary. We don’t advertise because we have flexibility and want to match the right octofit.

Octopus Energy Group is a unique culture. An organisation where people learn, decide, and build quicker. Where people work with autonomy, alongside a wide range of amazing co‑owners, on projects that break new ground. We were recently named the UK’s top company to work for, and we ranked in the top ten in the Sunday Times Best Places to Work 2024. Our Group CEO, Greg has recorded a podcast about our culture and how we empower our people. We’ve also been placed in the top 10 companies for senior leadership.

Visit our UK perks hub – Octopus Employee Benefits.

If this sounds like you then we'd love to hear from you.

P.S. Our process usually takes up to 4 weeks, but we’ll always do our best to flex around what works for you. Along the way, you’ll chat with our recruitment team and your Recruiter will help you throughout different stages. Got any burning questions before then? Drop us a message at [e-mail] and we’d love to help!

As an equal opportunity employer we do not discriminate on the basis of any protected attribute. Our commitment is to provide equal opportunities, an inclusive work environment, and fairness for everyone.