Defining your own Workforce calculations in a custom component gives you great flexibility in applying conditional logic and specifying value drivers to calculations for additional earnings, benefits, or taxes.
For example, you could create a bonus calculation that applies to new hires who start in the first 6 months of a calendar year, but not for those who start in the last 6 months of the calendar year in their first year of hire. You can also select a value driver other than the predefined ones (for example, Flat Amount, Percentage of Salary, and so on). So, for example, you could base an additional earning such as commissions on a custom member that you create, for example, Revenue. To specify a member as the Value Type driver, you include it in the member formula for the custom component.
To customize logic in a custom component:
- In the Benefits and Taxes Wizard, on the Details page, edit an existing component, and for Component Type, select Custom.
- Continue setting up the component, optionally entering rates to be used in your custom logic.
Include any thresholds in the member formula.
- Create a member formula for the OWP_Custom Expense member in the Property dimension:
- On the Home page, select Application, then Overview, and then Dimensions.
- Click the down arrow to the right of Cube, and then select OEP_WFP.
- Click Property, right-click in the Member Name column header, and then clear Default mode.
- Select the member OWP_Custom Expense, scroll right to the OEP_WFP Formula column, and then click in the intersection cell.
- In the upper left of the grid, click the Member Formula icon .
- Enter the member formula.
- Before creating your own custom calculation logic, Oracle encourages you to first do due diligence in using the predefined calculations.
- Evaluate the performance of your custom formula before taking the application into production.
- To create and use multiple custom components, modify the OWP_Custom Expense member formula to accommodate each component’s custom logic. For example, use nested IF conditions for each custom component type.
See the next topics for advice on customizing calculation logic and for several sample formulas.