Formulas are generic expressions of calculations or comparisons you want to repeat with different input values. Formulas take input from a window, a database, or a process, such as a payroll run and they return values or messages.
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.
In HRMS, Oracle FastFormula is used for validation, to perform calculations, and to specify rules. Here are some examples.
In Payroll, you use formulas to:
Validate element inputs
Calculate element pay values and run results during payroll processing
Specify the rules for skipping an element during payroll processing
Perform legislative checks during a payroll run
In Compensation and Benefits Management, you use formulas to:
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
Define custom calculations for benefits administration
Calculate the duration of an absence given the start and end dates and times
Create rules for benefits administration such as eligibility determination
In People Management, you use formulas to:
Check that element entry values are valid for an assignment
Specify the criteria for including an assignment in an assignment set and to edit assignment sets
Configure the people management templates in a number of ways such as supplying additional information to be available from fields on the template and validating field entries
Define collective agreements
Generate custom global person number sequences for employees, applicants, and contingent workers
You also use formulas to define Oracle Business Intelligence Systems reports, to select the database information you want to display in a QuickPaint report, and to perform calculations for the report.
You can easily create and maintain business rules by calling formulas from the Custom Library. For example, you can use formulas to validate data entry in forms by calling formulas from the Custom Library, and to check that entries made to a user table are valid. You can then call these business rules from other PL/SQL applications.
When you write a formula, you specify for which of these purposes you will use it.
Formulas are made up of a number of different components. These can include assignment statements, different types of input including database items, functions, nested expressions, and conditions. See: Introduction to Formula Components
When writing formulas, there are a number of techniques you should use to ensure your formulas are easy to use and understand. See: Formula Writing Techniques. There are also rules for using each type of component that you need to follow. See: Formula Reference
Oracle FastFormula provides functions that manipulate data in various ways. These include:
Text functions such as the GREATEST function that compares the values of all the text string operands and returns the value of the operand that is alphabetically last
Numeric functions such as the ROUND function that rounds off a numeric value to the specified number of decimal places
Date functions such as the ADD_DAYS function that adds a number of days to a date
Data conversion functions such as the CONVERT function that converts a character string from one character set to another
Other types of functions provided by Oracle FastFormula include functions:
To get values from tables such as the GET_LOOKUP_MEANING function that enables Oracle FastFormula to translate a lookup code into a meaning
For accrual type formulas such as the GET_START_DATE function that returns the date at which the accrual formula should start calculating accruals
That allow you to call another formula, either once or in a loop such as the CALL_FORMULA function that runs a named formula with no inputs and no outputs
To set and use globals in SQL*Plus from within your formulas such as the ISNULL set of three functions that test whether a text, numeric, or date value is NULL
See: Functions
Formulas are predefined for all the tax calculations required for Oracle Payroll. You should not edit these formulas. When tax rules change, you will automatically receive updates.
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.
Depending on the legislation, the system may automatically generate some payroll formulas to define earnings and deductions elements, 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.
There are two types of database items available to you in Oracle HRMS for writing formulas and defining QuickPaint reports. Static database items come as part of the system and you cannot modify them. Dynamic database items are created by Oracle HRMS processes whenever you define new elements or other related entities. See: Database Items
To use the FastFormula Assistant, you must ensure the FastFormula Transaction Manager concurrent manager is running on your environment. A system administrator can setup the menus, add the functions and activate the concurrent manager. See: Defining Concurrent Managers Oracle Applications System Administrator's Guide - Configuration.