How to write simple Fast Formulas in Oracle HRMS

Assignment

Write a formula to calculate the travel payment Pay Value by multiplying Distance by the company travel rate, which is stored as a global value. How to define Global value has been already covered before.
Writing Simple Formulas
Assume that a company has defined an element called ‘Travel Payment’ with an input value called ‘Distance’. Write a formula to calculate the travel payment Pay Value by multiplying Distance by the company travel rate, which is stored as a global value.

Name the formula XX_TRAVEL_PAYMENT, where xx is your group identifier.
Steps to write a Simple Formulas
1. Navigate to the Formula window using your local Super HRMS Manager responsibility.Total Compensation > Basic > Write Formulas
2. Set your effective date to 1 January 2000.
3. Enter the name XX_TRAVEL_PAYMENT, where xx is your group identifier.

4. Select Oracle Payroll in the Type field.
5. Select the Edit button.
6. Write your formula in the Edit Formula window, then select the Verify button.
7. When the formula verifies successfully, close the Edit Formula window.
8. Save your work.
Your formula should be similar to the following-
DEFAULT FOR distance IS 0
INPUTS ARE distance
travel_payment = distance * XX _TRAVEL_RATE
RETURN travel_payment
Note: To complete the setup for the travel payment, you would:
• Define a formula processing rule to associate the formula with the Travel Payment element.
• Define a formula result rule to return the travel_payment formula result to the element’s Pay Value.

Please share your views about this Article.For more articles visit About ERP Oracle Apps