Here are Uses for Oracle FastFormula

[safdar_hassan]

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.
Collective agreements
Define employment categories for EEO reports (US only)
Payroll Calculations
You can use predefined payroll formulas. When you receive Oracle Payroll, some formulas are predefined in your system. You cannot make any changes to these formulas, but you can copy them and modify the copies.

US and Canadian Payroll users can use Oracle FastFormula to edit the formulas the system generates for the earnings types, other payments and deductions you initiate in Oracle Payroll. You make these edits directly to the generated formula (not to a copy) using the Formula window.

All Oracle Payroll users can use FastFormula to write payroll calculations and skip rules for elements you define yourself to represent earnings and deductions. You can associate more than one formula with each element, to perform different processing for employee assignments with different statuses. US and Canadian Payroll users need only define their own elements and formulas for earnings and deductions with highly complex calculations requiring a number of different calls to the database.

You can write Payroll Run Proration formulas to run after the usual payroll formula and handle proration when employees start work or terminate mid-pay period, or when rates, grades, or other values change, requiring an element to be prorated.

PTO Accrual Plans
You can use Oracle FastFormula to edit the seeded Accrual type formulas, or to write your own. Each accrual plan needs two formulas: one to calculate gross accrual, and the other to return information to the PTO Carry Over process. You can optionally create a third formula if you want to use the Batch Element Entry (BEE) to make absence entries against accrual plans. This formula is called by BEE to check whether an employee is eligible to use accrued PTO. See: Accrual Formulas.

Benefits Administration
You can use Oracle FastFormula to augment the system's benefits administration features. Use formulas to configure your plan design to the requirements of your enterprise. For example, you can write a formula to calculate benefits eligibility for those cases where eligibility determination is most complex.

QuickPaint Reports
In the Define QuickPaint Report window, you can paste database items from a list into the Report Definition area and enter free text to label the data. When you save your QuickPaint Report definition, a formula is generated automatically. Formulas generated from QuickPaint do not include conditional logic or calculations. You may want to add these features, for example to sum up compensation elements or to report different data for different assignments.

Validation of Element Inputs or User Tables
You can use Oracle FastFormula to validate user entries into element input values using lookups or maximum and minimum values. However, if you need more complex validation, you can write a formula to check the entry.

You can also use a formula to validate entries into user tables that you define.

Assignment Sets
When you define assignment sets in the Assignment Set window, Oracle FastFormula generates a formula to define an assignment set from the criteria entered. However, you may want to change the sequence in which the set criteria are checked for each assignment.

Absence Duration
You can write a formula to calculate the duration of an absence from the start and end dates and times. Your localization team may have created a default formula, but you can override this with your own version.

Configuring People Management Templates
There are several ways you can use formulas to configure the people management templates:

A Template Validation formula can check values entered in a field.
A Template Information formula can specify information to be displayed from the right mouse menu when a user right-clicks in a field.
A QuickPaint formula can return a text string to display in the Assignment field on the Maintenance window and in the Data Organizer.
A QuickPaint formula can return message tokens that you can use in a notification message issued from template forms.
Calling FastFormula from PL/SQL
You can call formulas from PL/SQL applications. This enables direct access to data items and makes it possible to develop custom code for localized business rules. More detailed information about calling FastFormula from PL/SQL can be found in the technical essay Calling FastFormula from PL/SQL.

Oracle Business Intelligence Systems (BIS) Reports
Using formulas you can configure your HRMS BIS reports so that they answer the business questions which are important to your enterprise. You can:

Define how workforce should be counted within your enterprise for the Workforce reports.
Set up information about how you want to record and report on regular and overtime hours for the Hours Worked Analysis report.
Set up the standard hours for your enterprise for the Absence Analysis report.
Collective Agreements
Using formulas you can calculate whether a person is eligible to receive a collective agreement entitlement. This can be used when defining an eligibility profile to be used in conjunction with a collective agreement, instead of selecting criteria elements. You select the formula as a rule when defining the eligibility profile.

Employment Categories for EEO Reports (US only)
For the EEO4 and EEO5 reports you can use Oracle FastFormula to create a formula of employment categories. You can define a formula for each business group and the EEO reports will pick the list of employment categories from the formula.

[mamajid]

Dear Safdar Hassan

I am looking for step by step guide for fast formula with some examples

can you help ...?

if you have any document related to that then please mail it to mohammedamajid@gmail.com

regards

Majid