You can define a virtual method, for which you can define a callback.
Using your example:
TransactionSchema.method('getNotebook', function(cb) {
Notebook.findById(this.notebookId, function(err, notebook) {
cb(notebook);
})
});
And while the sole commenter appears to be one of those pedantic types, you also should not be afraid of embedding documents. Its one of mongos strong points from what I understand.
One uses the above code like so:
instance.getNotebook(function(nootebook){
// hey man, I have my notebook and stuff
});