How to track promissory notes at a course or school

Tracking promissory notes well means recording each note against a student and their instalment plan, seeing due dates in advance, logging every payment on the day it arrives and keeping overdue notes on a separate list. In Turkey, because a course’s agreement with a parent is usually a consumer transaction, notes must be issued separately for each instalment and made out to a named payee. For enforcement or court action, always speak to your legal adviser.

This article is written for schools and courses in Turkey, where promissory notes (senet) are a common way to document instalment plans. It is not legal advice. Rules change, so confirm current requirements with your legal adviser or accountant before issuing notes.

When to use a promissory note

Notes are used to document what a family owes on long, higher-value enrolments. For example, a parent who enrols on a full-year programme and pays in instalments may sign one note for each instalment.

Not every enrolment needs one. Notes make more sense when:

The instalment period is long, such as a full academic year
The total amount is significant
Payment is expected in cash or by bank transfer rather than by card

For short, month-to-month enrolments or card instalments, notes are usually unnecessary paperwork. They can also make some parents feel mistrusted, so explain simply why you ask for them.

Basic rules to know

Required elements of a promissory note

The note used by courses in Turkey is usually a “bono”. Article 776 of the Turkish Commercial Code lists what it must contain. In short:

The word “bono” or “emre yazılı senet” in the text
An unconditional promise to pay a set amount
The due date
The place of payment
The name of the payee
The date and place of issue
The signature of the person issuing it

If one of these is missing, the document may not be valid as a bono, although the law fills some gaps with default rules. Even with pre-printed forms, check that every field is completed.

Consumer transactions: one named note per instalment

The relationship between a course and a parent is generally a consumer transaction. Turkey’s Consumer Protection Law No. 6502 says that negotiable instruments in consumer transactions may only be issued to a named payee and separately for each instalment. Notes issued in breach of this are invalid against the consumer.

In practice:

Do not take a single note for the full amount.
Issue a separate note for each instalment, showing that instalment’s amount and due date.
Make sure each note is issued to a named payee.

Show the pre-printed form you use to your legal adviser to confirm it meets these conditions.

Step 1: Link every note to the instalment plan

Notes should not live as a separate pile of paper. They are part of the student’s payment plan. For each note, record:

Student and parent name
The enrolment or contract it belongs to
Note number
Amount
Issue date and due date
Status: pending, paid, partly paid, overdue, returned

Amounts and due dates must match the instalment plan exactly. If the plan says one amount for October and the note says another, you will have problems with both the parent and your own records.

Step 2: Store notes securely

The original note is your evidence of the debt. If it goes missing, collection gets harder.

Keep originals in a locked cabinet or safe, sorted by due date.
Keep a scanned copy of each note in your digital records.
Limit who can access notes, and log each time a note is handed over or returned.
If you have several branches, keep each branch’s notes separate and review the overall report centrally.

Step 3: See due dates in advance

The most common mistake is noticing a note only after it is overdue. Each week, list the notes falling due in the coming days.

A simple weekly routine:

List notes due this week.
Send the parent a short reminder a few days before the due date.
Check for payment on the due date.
Move unpaid notes to the overdue list.

Keep reminders short and polite: “Hello, the November payment under your enrolment agreement is due on 10 November. You can pay at the office or by bank transfer.”

Step 4: Record payments on the same day

When a payment arrives, update the note straight away. Records left for the end of the week lead to “was this one paid?” questions.

Full payment: mark the note as paid, give a receipt and return the original note to the parent. Log the return.
Partial payment: record the amount paid and the balance, give a receipt, and keep the original until it is paid in full. Ask your legal adviser how partial payments should be documented.
Bank transfer: match the payment to the right note using the transfer reference or by confirming with the parent.

Never return a note before payment. Equally, failing to return a note that has been paid creates disputes.

Step 5: Track overdue notes separately

Overdue notes need more attention than ordinary instalments. The director or owner should review this list weekly.

A sensible sequence:

In the first days: call the parent. Find out whether they forgot, have a temporary problem or disagree about something.
If it is temporary: agree a written payment plan and record the new date.
If it is not resolved within a few weeks: meet in person and send a written reminder.
If no agreement is reached: contact your legal adviser.

Enforcement based on promissory notes follows special procedures in Turkish law. Which route applies, how deadlines work and whether a note qualifies all need a legal assessment. Limitation periods for notes are also set by law, so do not leave overdue notes sitting for months, and ask your legal adviser about the deadlines.

Step 6: Read your note reports monthly

At the end of each month, check:

What was the total due this month, and how much was collected?
Did the total overdue amount rise compared with last month?
How are due dates spread over the coming months?
Which families have more than one overdue note?

Future due dates also help with cash flow planning. If few notes fall due in summer, plan that period’s expenses accordingly.

Common mistakes

One note for the whole debt: consumer transactions require one note per instalment.
Incomplete notes: a missing due date, place of payment or signature can affect the note’s status.
Notes that do not match the plan: amounts and dates must be identical.
Not returning paid notes: it damages trust and muddles records.
Leaving overdue notes for months: collection gets harder and legal deadlines keep running.

For managing notes alongside instalments, see our promissory note tracking software page. The tuition fee tracking software page covers enrolments and collections together, and school income and expense tracking software shows your wider receivables picture.

Checklist

Notes are used only where they are genuinely needed.
One named note is issued per instalment.
All required elements of the bono are completed.
Each note is recorded against the student and the instalment plan.
Originals are stored securely, with scanned copies.
Due dates are reviewed weekly, and reminders go out before the due date.
Payments are logged the same day, and paid notes are returned with a receipt.
Overdue notes are on a separate list, and legal steps go through your legal adviser.

In Jamaster you can track notes and collections together with the instalment plan and see overdue receivables in the note report.