Oracle FastFormula
What is Oracle FastFormula?
Oracle FastFormula 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.
How can you use formulas?
You can use formulas to:
Calculate element pay values and run results during payroll processing.
Check that element entry values are valid for an assignment.
Check that entries made to a user table are valid.
Specify the criteria for including an assignment in an assignment set.
Create rules for benefits administration, such as eligibility determination
Select the database information you want to display in a QuickPaint report, and perform calculations for the report.
Specify the rules for skipping an element during payroll processing.
Prepare records in the format you require for the magnetic tape writer. For most countries, the Oracle localization team has written the required formulas.
Perform legislative checks during a payroll run.
Specify the rules for Paid Time Off accrual plans, such as how much time is accrued and over what period, when new starters are eligible to begin accruing time, and how much time can be carried over to the next accrual term.
Calculate the duration of an absence, given the start and end dates and times.
Generate custom global person number sequences for employees, applicants, and contingent workers.
Configure the people management templates in a number of ways, including supplying additional information to be available from fields on the template, and validating field entries.
Validate forms by calling formulas from the Custom Library. Calling formulas from the Custom Library also allows you to easily create and maintain business rules.
For more information about calling formulas from PL/SQL, refer to the technical essay Calling FastFormula from PL/SQL, Oracle HRMS Implementation Guide.
When you write a formula, you specify for which of these purposes you will use it.
Are any formulas supplied?
Yes, formulas are predefined for all the tax calculations required for Oracle Payroll. You should not edit these formulas; you will automatically receive updates when tax rules change.
There are also a number of formulas predefined for accrual plans. You can use these formulas as supplied, or customize them to match the rules of your own plans.
When US and Canadian Payroll users define earnings and deductions, the system automatically generates the formulas required to process these elements. When necessary, you can edit these generated payroll formulas. In other legislations, some formulas may be predefined, and you can create as many other formulas as you require to process the elements you define.
Formulas for QuickPaint reports and assignment sets can be generated from criteria you enter in windows. You can edit these generated formulas to add more functionality.
Uses for Oracle FastFormula
Uses for Oracle FastFormula
You can use Oracle FastFormula to:
Calculate your payrolls
Define the rules for PTO accrual plans
Define custom calculations for benefits administration
Define QuickPaint reports
Validate element inputs or user tables
Edit assignment sets
Calculate absence duration
Configure people management templates
Set up business rules and call them from other PL/SQL applications
Define your Oracle Business Intelligence Systems reports
Define collective agreements
Define custom global person number sequences
Define employment categories for EEO reports (US only)
Calculate ratings for individual competencies and objectives, and calculate a total score for an appraisal
for more details : http://docs.oracle.com/cd/E18727_01/doc.121/e14567/T1774T1776.htm
