Notes Receivable Accounting is the process of managing and recording a business’s financial debt in the form of promissory notes. A promissory note is an agreement between two parties that outlines how one party, the “maker,” will pay a certain sum of money to another party, the “payee,” on or before a specified date. Notes Receivable Accounting can include everything from drafting the initial documents to tracking payments, making adjustments for interest, and ensuring timely repayment. It is important for businesses to understand and manage their Notes Receivable process in order to maintain a healthy cash flow and protect the organization.