HCM Cloud Fast Formula

Oracle fast formulas are used for performing calculations, validation, and specifying rules written in simple English words with basic mathematical formulas. Oracle Fast Formula uses using Oracle Ebusiness suite as well as HCM Cloud applications in various modules such as Global HR, Payroll, Absence Management, Benefit, Compensation, Time, and Labor. Apart from these modules, it is used in Fusion HCM Extract for complex logic or business rules, to define extract criteria.

Some fast formulas are predefined and supplied by Oracle with application and this should not change as it can impact after upgrade. Some fast formula is generated automatically as per the information given in the element templet when the element is created. There are some user-defined formulas that users development to meet requirements which are not fulfilled the predefined or generated formula.

The formula can be used either Global level, for any LDG, or specific to one Legislative data group (LDG).

Some examples of formula usage as per applications,

Payroll - Calculate element run results, define skipping rule for an element, proration, etc.

Absence Management – Accrual, Vesting Criteria, carry over, etc.

Time and Labor – Time entries validation/calculation etc.

Benefits – Eligibility and participation evaluation, service calculation, etc.

Formula Components

• Comments

  # This is the Salary Calculation single line comment.

  /*

  This is a multi-line comment.

  Formula Name: XX_SALARY_CALC

  Formula Type: Payroll

  */

• Default Statement

  /* DATABASE ITEM DEFAULTS VALUE*/

  DEFAULT FOR ASG_HR_ASG_ID IS 0

  DEFAULT FOR ELEMENT_ELEMENT_NAME is 'ZZZ'

• Input Statements

  INPUTS are HOURS_WORKED, RATE

• Variables

  • Input Variables

    HOURS_WORKED

  • Output Variables

    L_VALUE = ROUND (L_HOURS * L_RATE,2)

    RETURN L_VALUE

  • Local variable

    L_VALUE

• Database Items

  ELEMENT_ELEMENT_NAME

• Assignment statements

  L_RATE = RATE

  L_HOURS=HOURS_WORKED

  L_VALUE = ROUND (L_HOURS * L_RATE,2)

• Expressions

  It combines variable and constant with arithmetic operators (+, *,/, -) and function to get a value.

  L_VALUE = ROUND (L_HOURS * L_RATE,2)

• Conditions

  IF L_HOURS>0 AND L_RATE>0 THEN

  (

  L_VALUE = ROUND (L_HOURS * L_RATE,2)

  )

  ELSE

  (

  L_VALUE = 0

  )

• Return statements

  It uses to return value back to payroll process or any process.

  RETURN L_VALUE