Creating Custom Calculation Logic in a Component
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.
Notes:
- 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.
Tip:
See the next topics for advice on customizing calculation logic and for several sample formulas.