Fast Formulas

Fast Formulas in Fusion HCM are versatile and used across various modules to define custom logic, calculations, and validations. Here are the key areas where they are commonly applied:

1. Payroll:

• Calculate earnings, deductions, and taxes.
• Define skip rules for payroll elements.
• Handle proration for mid-period changes in payroll data.

2. Benefits:

• Determine eligibility for benefit plans.
• Calculate rates, coverage amounts, and waiting periods.
• Validate certification requirements for benefits.

3. Compensation:

• Define rules for individual and workforce compensation plans.
• Calculate start and end dates for compensation allocations.
• Handle eligibility and participation evaluations.

4. Absence Management:

• Calculate accruals for leave balances.
• Define carryover rules for unused leave.
• Validate absence entries based on business rules.

5. HCM Extracts:

• Customize data extraction logic for reporting and integrations.
• Apply filters and transformations to extracted data.

Oracle Fusion Applications: Fast Formulas and Table Value Sets in Oracle HCM Extracts

6. Time and Labor:

• Calculate overtime, shift differentials, and other time-related rules.
• Validate time card entries.

7. Validation and Defaults:

• Validate user inputs for various fields.
• Provide default values for fields when no input is provided.