Overview of Using Fast Formulas

Fast Formula 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.

The Elements task generates standard element skip and calculation formulas, and you can modify these formulas based on your requirements. Use the Fast Formulas task to use formulas corresponding to one or more formula types, requiring specific formula inputs and outputs.

Uses of formula in payroll include:

• Control Processing

  • Payroll flow patterns: Control the repetition of a payroll flow.

  • Element skip: Control when elements are processed in a payroll run.

  • Work or payroll relationship groups: Define a set of people for payroll processing, data entry, or reporting.

• Configuration

  • Configure payment method preferences. For example, you can limit the number and types of payment methods.

• Validation

  • Element entry validation: Validate one or more element entry values. Provide a default value for an element entry value, or calculate entry values based on the user's entries in other entry values.

  • User table validation: Validate entries in user-defined tables.

• Calculation

  • Proration formulas control how payroll runs prorate element entries when they encounter an event such as a mid-period change in an element entry value.

  • Associate more than one payroll formula with each element to perform different processing for employee assignments with different statuses.

• Data Loading

  • Transformation formulas convert inbound data into a format that HCM Data Loader understands.

Note:

Refer Using Fast Formula guide for more information about the general formula concepts.