Payments Overview

Home > Payments Overview

---

Five Main Players in BC Government Payments' Landscape:

1. Individuals and Businesses:

• British Columbians, individuals, businesses, partners, vendors, etc.
• Engage in diverse payment transactions using various methods and channels.

2. Ministry Lines of Business (LOB):

• Service delivery units handling transactions with the public.
• Record transactions in sub-ledgers, requiring client details, service information, and transaction amounts.

3. Banking & Cash Management (BCM):

• Manages government relationships with banks for financial transactions.
• Oversees banking infrastructure, ensuring adherence to procurement rules.

4. Corporate Financial System (CFS):

• Houses the General Ledger, recording all debit and credit transactions.
• Associates Ministry LOBs with unique codes for program areas, recording transactions in real-time or after reconciliation.

5. Banks:

• Seven banks house the Consolidated Revenue Fund for the BC Government.
• Facilitate fund transfers and storage, sending daily transaction files to BCM.

Payment Processes:

1. Inbound Payments:

• LOBs collect revenue, recorded in sub-ledgers.
• BCM's mainframe system records revenue in the CFS General Ledger.
• Daily totals are sent to the General Ledger based on payment methods.

2. Invoices & Direct Sales:

• Invoices issued based on the LOB's nature, with some transactions recorded at the time of sale.
• Payment methods include credit/debit cards, online banking, EFTs, wires, PAD, cheques, and cash.

3. Payment Channels:

• Payments made online, in person, via telephone, or postal mail.
• Payment methods vary across channels.

4. Reconciliation:

• Internal and external processes reconcile LOB sub-ledgers with the General Ledger.
• Discrepancies analyzed to determine internal or bank errors.

5. Outbound Payments:

• LOBs send payments to external parties, ranging from recurring to ad hoc transactions.
• Payment methods include EFT, wire, and cheque.

6. Banking & Cash Management's Automated Funds Transfer (AFT) System:

• Receives EFT files from LOBs, CFS, and Telus Payroll system.
• Releases transaction files to Central 1 Credit Union for disbursement.
• General Ledger entries recorded automatically or manually by LOBs.

7. Wire Payments:

• Conducted directly by BCM staff through online banking platforms.
• Used for high-value and international payments, with entries recorded in the General Ledger.

8. Cheque Disbursements:

• Administered by LOBs, requisitioned through the Corporate Financial System.
• Cheques printed and mailed by BC Mail Plus, with BCM involved in post-production activities.