Oracle Fast Formulas - Chapter 4: Creating Your First Fast Formula in Oracle Fusion

Objective of This Chapter

In this chapter, you will learn how to create a simple Fast Formula in Oracle Fusion from start to finish. This includes defining the purpose, creating inputs, writing the logic, and testing the formula.

Steps to Create a Fast Formula

Step 1: Define the Purpose

Before writing the formula, clearly define what you want the formula to achieve.
Example: Calculate a bonus based on employee salary.

Step 2: Access the Fast Formula Screen

Navigate to the following path inside Oracle Fusion:

Go to the Navigator menu.
Select Payroll or the relevant module.
Click on Fast Formulas.
Create a new formula.

Step 3: Understand Formula Types

Select the correct Formula Type based on the module:

Payroll: Calculation formulas for earnings or deductions.
Absence Management: Eligibility and accrual calculations.
Benefits: Eligibility determination.

Choosing the correct type ensures your formula works in the right process.

Step 4: Define Inputs

Inputs are the data the formula will use. Examples include salary, age, service period, etc.

Syntax Example:

DEFAULT FOR Salary IS 0

This means if Salary input is missing, system assumes it as zero.

Step 5: Write the Formula Logic

Use basic conditional statements like IF, THEN, ELSE to create your logic.

Example Formula:

DEFAULT FOR Salary IS 0

IF Salary > 50000 THEN

Bonus = Salary * 0.10

ELSE

Bonus = Salary * 0.05

RETURN Bonus

Explanation:

If Salary is greater than 50000, give 10 percent bonus.
Otherwise, give 5 percent bonus.

Step 6: Compile and Validate

After writing the formula:

Click on Validate.
System will check for syntax errors.
If there are errors, correct them and validate again.

Step 7: Test the Formula

Before using in production:

Create test cases with sample data.
Check different salary values and validate if the bonus calculation is correct.
Use Formula Results to see output in Oracle Fusion.

Tips for Beginners

Always define DEFAULT values for all inputs.
Keep formulas simple at first.
Name formulas clearly for easy identification later.
Test thoroughly before deployment.

Mini Practice Quiz

What is the first step before writing a formula
A Defining Purpose
B Writing Code Directly
C Testing the Formula

Answer: A Defining Purpose

What does Validate option do in Fast Formula
A Compiles and Checks Errors
B Directly Executes Formula
C Deletes the Formula

Answer: A Compiles and Checks Errors

Fusion Katta

Pages