Cost Accountant

Octopus Energy; Greater London; On-site; GBP 35,000 - 45,000; Full time

Job summary

A growing energy services provider in Greater London is seeking a motivated Cost Accountant to join their finance team. You will prepare financial reports, manage day-to-day finance operations, and ensure compliance with accounting standards. The ideal candidate will possess a relevant degree and 1-2 years of experience in a cost accounting role. Strong IT and communication skills are essential, along with a proactive approach to detail and accuracy. This role offers an exciting opportunity for growth in a fast-paced environment.

Qualifications

• 1-2 years experience in a cost accounting or similar role.
• Experience in a business with physical inventory is preferable.
• Strong IT skills, especially in advanced Excel.
• Proactive, self-motivated, and detail-oriented.

Responsibilities

• Daily transaction posting in the general ledger.
• Prepare monthly management accounts and assist with COGS calculations.
• Reconcile physical stock counts with inventory records.
• Perform balance sheet reconciliations for general ledger integrity.
• Assist in year-end reconciliations and audits.

Skills

Accounting principles

Advanced Excel skills

Communication skills

Attention to detail

Data analysis

Education

Relevant degree in Accounting or Finance

Part-qualified in 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. The role will entail preparation of financial reports, month‑end processes, and ensuring compliance with relevant accounting standards. You will work closely with the business to assist with day‑to‑day finance management and identify 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.

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
• Reconciling physical stock counts with perpetual inventory records (both quantity and value) and investigating any variances or discrepancies promptly
• Supporting the team in periodic reviews of inventory valuation, including obsolescence and net realisable value assessments
• Performing balance sheet reconciliations to ensure integrity of the general ledger and financial records, with a primary focus on inventory
• Reviewing finance processes to ensure 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
• Assisting with the preparation of year‑end reconciliations and schedules, and working closely with our auditors throughout the year‑end audit
• Providing 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 (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

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.

We may use artificial intelligence (AI) tools to support parts of the hiring process, such as reviewing applications, analysing resumes, or assessing responses. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans.