The Element Design Wizard automatically creates the Fast Formula element, based on the formula templates and calculation types. The formula name has the element name as a prefix and the calculation name as the suffix.
Earnings Elements
| Calculation Rule | Formula Suffix | Example |
|---|---|---|
| Flat Amount | FLAT_AMOUNT_EARN | Element Name: Monthly Salary Formula Name: MONTHLY_SALARY_FLAT_AMOUNT_EARN |
| Days * Rate | DAYS_X_RATE | Element Name: Christmas Bonus Formula Name: CHRISTMAS_BONUS_DAYS_X_RATE |
| Hours * Rate | HOURS_X_RATE | Element Name: Overtime Double Formula Name: OVERTIME_DOUBLE_HOURS_X_RATE |
| Percentage of Earnings | PCT_EARN | Element Name: Performance Bonus Formula Name: PERFORMANCE_BONUS_PCT_EARN |
Deductions Elements
| Calculation Rule | Formula Suffix | Example |
|---|---|---|
| Flat Amount Deduction | FLAT_AMOUNT_DEDN | Element Name: Saving Fund Formula Name: SAVING_FUND_FLAT_AMOUNT_DEDN |
| Percentage Deduction | PCT_DEDN | Element Name: Loan Formula Name: LOAN_PCT_DEDN |