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Les02_Fast Formula Overview

The document outlines the Oracle HCM Cloud Fast Formula course, focusing on the use of formulas in various HCM business processes. It explains how to create user-defined formulas, the different types of roles involved, and the contexts in which formulas operate. Additionally, it discusses the components and functionalities of formulas, including database items, functions, and global values.

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Miguel Torres
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16 views23 pages

Les02_Fast Formula Overview

The document outlines the Oracle HCM Cloud Fast Formula course, focusing on the use of formulas in various HCM business processes. It explains how to create user-defined formulas, the different types of roles involved, and the contexts in which formulas operate. Additionally, it discusses the components and functionalities of formulas, including database items, functions, and global values.

Uploaded by

Miguel Torres
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Oracle HCM Cloud: Fast Formula 2 - 2

This course focuses on all the HCM business processes and how formulas are used
throughout them.

Oracle HCM Cloud: Fast Formula 2 - 3


Oracle HCM Cloud: Fast Formula 2 - 4
Formula contexts are the information available to a formula at runtime. It is discussed in more
detail in the next lesson.

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Fast Formula enable you to review predefined formulas and create new ones to validate or
calculate data for benefits, human resources, absences, time and labor, or payroll; as well as
validations and HCM extract reporting.

Oracle HCM Cloud: Fast Formula 2 - 6


Oracle HCM Cloud: Fast Formula 2 - 7
Oracle HCM Cloud: Fast Formula 2 - 8
Oracle HCM Cloud: Fast Formula 2 - 9
Oracle HCM Cloud: Fast Formula 2 - 10
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User-defined formulas are created on the Manage Fast Formula page in the following areas:
Setup and Maintenance Work Area
• All users – Search for the task on the Setup and Maintenance page.
• In the Implementation Project
- Payroll users – Under the Define Fast Formulas task list
- Non-payroll users – Under the Define Elements, Balances, and Formulas task list
Work Areas
• Payroll Calculations
- Manage Payroll Process Configuration task list
• Payroll Administration
- Manage Payroll Process Configuration task list
• Compensation
- Common Configuration task list

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An example of a global formula is CALC_ARREAR. It is an Oracle Payroll formula type that
calculates arrearages for deduction elements.

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Most formula types use the text editor to define formulas.
The expression editor can be used with these formula types:
• Deduction components group
• Deduction components detail group
• Payroll relationship group
• Work relationship group
These formula types are used when creating dynamic object groups. Object groups are used
to define subsets of deduction components or people for processing or reporting.
Note: For more complex conditions to create a group, you can choose the text editor when
creating the formula. Once you save the formula you can’t change the type of editor.

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The operands are based on the data type of the database item selected.
• Date
- Before
- After
- Equal
• Text
- Equal
- Not Like
- Like
• Numeric
- Less than
- Less than or equal
- Greater than or equal
- Greater than
- Equal
- Not equal

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• Database items are read-only variables that the system uses to find data
• Functions manipulate data to return a value
• Global values are variables that are referred to often that hold information that does not
change frequently

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A job role:
• Is predefined or user-defined
• Is not assigned to users
• Inherits one or more duty roles
A duty role:
• Is inherited by job roles and abstract roles
• Can be assigned to another duty role
• Is not assigned to users
• Is granted security privileges to duty roles
A data role:
• Is created by you
• Inherits job roles
• Is assigned to users

Oracle HCM Cloud: Fast Formula 2 - 17


Note
• The specific privileges assigned to a job role determine the work area in which a user
can access the Manage Fast Formulas page.
• This figure does not show all of the roles and privileges associated with the payroll
manager job role.

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Instructor Note
If an organization does not want one of these roles to have the Manage Fast Formula role,
then it could copy the predefined job role and remove the Manage Fast Formula role. For
more information, see Securing Oracle HCM Cloud on OTN.

Oracle HCM Cloud: Fast Formula 2 - 21


Answer: a
A formula’s type determines how the formula can be used and what information is
automatically available to it.

Oracle HCM Cloud: Fast Formula 2 - 22


Answer: b
The duty role, Fast Formula Management Duty, determines if you can modify and view
formulas.

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