Net Settlements

CHRIMS Net Settlements System

The days of using Microsoft Excel to maintain your Simulcast Settlements are over. CHRIMS has introduced a web-based accounting application designed to replace and greatly enhance the daily and monthly tasks needed to uphold the accounting of your simulcast settlements.

CHRIMS downloads and archives daily tote files and maintains settle agents, host track payments and other settlement information. Our system can be integrated with existing accounting systems and also provides support for settlements of multiple TRA customer codes.

Here are some of the other features and abilities you’ll gain by using the CHRIMS Net Settlements System:

  • Maintain your own ‘Partners’ directory which includes all contact information of each and every simulcast customer that you buy or sell racing signals to/from
  • Create a set of invoices simply by selecting a date range and clicking a button
  • Email PDF copies of invoices to all of your customers automatically and track the status of emailed invoices
  • Apply cash receipts and outgoing payments against outstanding invoices
  • View and analyze several offered reports, including an Aging Report, Customer History, Daily Transaction Report and Customer Statement Report
  • Use the General Ledger Upload feature to create journal entries for invoices and cash applications. This feature will ensure that your General Ledger and the Net Settlements System are in perfect harmony

Some of the largest corporations in the pari-mutuel industry are using the CHRIMS Net Settlement System, including The Stronach Group and Monarch Content Management. If you'd like to see how this system can meet the needs of your business, please Contact Us to set up a free demonstration.

In addition to the Net Settlements System, CHRIMS offers full service Settlement Accounting where our knowledgeable staff will receive and process payments, handle invoicing and collections, etc. You will have the ability to see where your settlements stand with the click of a button, along with the convenience of consulting our experienced staff to manage accounts quickly and easily.

CHRIMS has a working relationship with nearly every settling agent in the industry, which works to everyone's benefit not only to streamline the settlement process, but also to reduce the number of receivables and payables.

CHRIMS Automatic Clearing House (ACH) System allows for transaction processing on any of its accounting applications that require cash receipts and disbursements. This means increased cash flow, while reducing paper and mailing costs.

Testimonials

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While gathering and processing data we:

  • Interface with multiple tote systems and data sources
  • Work with tote companies to resolve any data issues
  • Manage standardized identifiers for race characteristics
  • Handle exceptions so wagering reports balance

In addition to data processing, CHRIMS offers other services including:

  • Inter-networking 34 race tracks and off-track wagering facilities in California
  • Customized analysis tools and reports and other data-interface projects
  • Source Market and Host Fee entry & reporting
  • Pari-mutuel data analysis