Rate By Criteria (RBC) uses four formula types to help determine eligibility and rate definitions. You call a seeded FastFormula function, RBC_Rate_Retrieval, to pay an employee through Oracle Payroll.
The function evaluates the eligible rate for an employee by processing the rate matrixes in the employee's business group. If this function is called in the Payroll formula attached to the element, it returns the Rate By Criteria rate for which the employee is eligible. The element must be associated with a criteria rate definition.
Formula Types
RBC specifically uses the four formula types below. For further details on each type, see the help topic Total Compensation Formula Types and the OAB FastFormula Reference Guide on My Oracle Support, Note ID: 218059.1
| Formula Type | Module | Usage |
|---|---|---|
| Eligibility Access Calculation | Eligibility Criteria | Aids in setup of user-defined criteria and is evaluated in the eligibility determination process to retrieve the person information value for your criteria. |
| Compensation Calculation | Criteria Rate Definition | Determines a compensation amount to be used to pay a person from Rate by Criteria. |
| Rounding | Criteria Rate Definition | Rounds a number to a specified place or decimal. |
| Preferential Rate Calculation | Criteria Rate Definition | For a given criteria rate definition, if an employee is found eligible for multiple rates by the Rate by Criteria API, the Preferential Rate Calculation formula can resolve which of these rates/ combination of rates the employee receives. |
The RBC Rate Retrieval Formula Function
To call the seeded RBC_Rate_Retrieval function from a formula, declare a local variable within the Element FF text:
<local variable1> = RBC_Rate_Retrieval()
The function includes predefined contexts, so you include no additional parameters.