Choose Additional Costing Choices Using Fast Formula

You can distribute costs under different assignments by using a fast formula to define the distribution across assignments.

Administrators and other benefits professionals can record costs of benefits towards the correct financial departments. This improves accuracy of financial reporting and shows the real expenditure of a department or organization.

You need to do these steps when you create or edit a standard rate to use a fast formula to define the distribution across assignments:

1. In the Plan Configuration work area, Overview page, click the Rates and Coverages tab.
2. On the Standard Rates subtab Create menu, select Create Standard Rate.
3. Select Distribution Formula from the dropdown list named Costing Method in the Processing Information tab on the Additional Information section.
4. Select the fast formula from the dropdown list named Distribution Formula.