Scribd
Upload
194 views

Fast Formulas

Oracle Fast Formula allows users to write formulas using English words and basic math functions to perform calculations within Oracle HRMS without needing to learn programming. It can be used for payroll calculations, PTO accrual plans, custom benefits calculations, validation rules, absence duration calculations, and more. The document provides steps for defining a sample fast formula for a daily allowance element to be included in an employee's payroll calculation.

Uploaded by

Sumit K
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
194 views

Fast Formulas

Oracle Fast Formula allows users to write formulas using English words and basic math functions to perform calculations within Oracle HRMS without needing to learn programming. It can be used for payroll calculations, PTO accrual plans, custom benefits calculations, validation rules, absence duration calculations, and more. The document provides steps for defining a sample fast formula for a daily allowance element to be included in an employee's payroll calculation.

Uploaded by

Sumit K
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 25

Prudhvi

Apr 14, 2011

HRMS Fast Formula


What is Oracle Fast Formula?
Oracle Fast Formula is a simple way to write formulas using English words and basic
mathematical functions. You can use information from your database in formulas without
learning the database structure or a programming language.
You can use Oracle Fast Formula to:
1.Calculate your payrolls
2.Define the rules for PTO accrual plans
3.Define custom calculations for benefits administration
4.Define Quick Paint reports
5..Validate element inputs or user tables
6.Edit assignment sets
7.Calculate absence duration
8.Configure people management templates
9.Set up business rules and call them from other PL/SQL applications
10.Define your Oracle Business Intelligence Systems reports.
11.Collective agreements
12.Define employment categories for EEO reports (US only)

1.Calculate your payrolls:

a)You can use predefined payroll formulas. When you receive Oracle Payroll, some formulas are
predefined in your system. You cannot make any changes to these formulas, but you can copy
them and modify the copies.
b)All Oracle Payroll users can use Fast Formula to write payroll calculations and skip rules for
elements you define yourself to represent earnings and deductions.

2.PTO Accrual Plans:


You can use Oracle Fast Formula to edit the seeded Accrual type formulas, or to write your own.
Each accrual plan needs two formulas: one to calculate gross accrual, and the other to return
information to the PTO Carry Over process. You can optionally create a third formula if you
want to use the Batch Element Entry (BEE) to make absence entries against accrual plans. This
formula is called by BEE to check whether an employee is eligible to use accrued PTO.

3.Define custom calculations for benefits administration:


You can use Oracle Fast Formula to augment the systems benefits administration features. Use
formulas to configure your plan design to the requirements of your enterprise. For example, you
can write a formula to calculate benefits eligibility for those cases where eligibility determination
is most complex.

4.Define Quick Paint reports:


a)A Quick Paint formula can return a text string to display in the Assignment field on the
Maintenance window and in the Data Organizer.
b)A Quick Paint formula can return message tokens that you can use in a notification message
issued from template forms.

5.Validate element inputs or user tables:


a)You can use Oracle Fast Formula to validate user entries into element input values using
lookups or maximum and minimum values. However, if you need more complex validation, you
can write a formula to check the entry.
b)You can also use a formula to validate entries into user tables that you define.

6.Edit assignment sets:


When you define assignment sets in the Assignment Set window, Oracle FastFormula generates a
formula to define an assignment set from the criteria entered. However, you may want to change
the sequence in which the set criteria are checked for each assignment.

7. Absence Duration:
You can write a formula to calculate the duration of an absence from the start and end dates and
times. Your localization team may have created a default formula, but you can override this with
your own version.

8.Configuring People Management Templates:


There are several ways you can use formulas to configure the people management templates:
a) A Template Validation formula can check values entered in a field.
b) A Template Information formula can specify information to be displayed from the right mouse
menu when a user right-clicks in a field.

9.Set up business rules and call them from other PL/SQL applications:
You can call formulas from PL/SQL applications. This enables direct access to data items and
makes it possible to develop custom code for localized business rules. More detailed information
about calling Fast Formula from PL/SQL can be found in the technical essay Calling Fast
Formula from PL/SQL.

10.Define your Oracle Business Intelligence Systems reports:


Using formulas you can configure your HRMS BIS reports so that they answer the business
questions which are important to your enterprise.
You can:
a)Define how workforce should be counted within your enterprise for the Workforce reports.
b)Set up information about how you want to record and report on regular and overtime hours for
the Hours Worked Analysis report.
c)Set up the standard hours for your enterprise for the Absence Analysis report.

11.Collective agreements:
Using formulas you can calculate whether a person is eligible to receive a collective agreement
entitlement. This can be used when defining an eligibility profile to be used in conjunction with a
collective agreement, instead of selecting criteria elements. You select the formula as a rule when
defining the eligibility profile.

12.Define employment categories for EEO reports (US only):


For the EEO4 and EEO5 reports you can use Oracle Fast Formula to create a formula of
employment categories. You can define a formula for each business group and the EEO reports
will pick the list of employment categories from the formula.
Note: When you write a formula, you specify for which of these purposes you will use it.

Steps to define Fast formula:


Step1: Define Consolidation Set
Navigation: Payroll > Consolidation

Step2: Define Payment Method


Navigation: Payroll > payment Methods

Step3: Define Payroll


Navigation: Payroll > Description

Step4: Creating Elements


Navigation: Total Compensation > Basic > Element Description
i)Basic Element:

Click on input values.

ii) DA Element: (fast formula is assigned to this element)

Click on input values.

Step5 : Link the Elements with the Payroll


Navigation: Total Compensation > Basic > Link
i)Basic Element:

ii) DA Element:

Step6: Define Salary Basis


Navigation: Total Compensation > Basic > Salary Basis

Step7: Define Fast Formula


Navigation: Total Compensation Basic Write Formulas

Click on the Show Items Button and Query for the Database Items related to the element
Ex1_Basic and search for the item which is suffixed with ENTRY_VALUE.

Click on Edit Button and write the formula Logic and click on Verify button to verify the
syntax.

Step8: Define Formula Result Rules


Navigation: Total Compensation > Basic > Formula Results
Select the element to which the formula has to be assigned.

Step9: Attach all the defined Elements for the employee to whom the payroll has to be run.
Navigation: People > Enter and Maintain
Create Employee (or) Query Employee

Click on Assignments

Click on Entries

Click on Entry Values

Step10: Run the payroll.


i)Nav: Processes and Reports > Submit Processes and Reports
Run the Concurrent Program Payroll Run.
ii) Nav: Processes and Reports > View Requests > Find
iii)Nav: View > Payroll Process Results
Select the Payroll and click on Find Button.
Select the Payroll(for specific Period) run and Click on Assignment Process Button

Select the Employee for whom you have run the payroll and click on SOE Report to view the
Pay Advice Report.

You might also like