👉 In accounting, "recouping" is a process or method used to recover amounts due from creditors. It involves a company's efforts to collect its debts by pursuing and collecting on overdue payments.
Recouping typically involves three main steps:
1.
Identification of Debts
: The first step is to identify the specific debts that need to be recovered. This may involve reviewing payment history, checking bank statements or other financial records for any outstanding amounts.
2.
Contacting Debtors
: Once
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