Fast Formula – First Formula
Fast Formula – First Formula
In our previous blog, we went over the basics of the Fast Formula engine and its components. We also explained the
Fast Formula types, Context, Input Values and Return Variables/Values.
In this blog, we want to take a simple example so that the fast formula can be understood clearly. If you have already
created a formula, this section is not for you. This is for those people who have not yet created any fast formula.
Advance users; please feel free to skip. ☺
The Fast Formula is created in Payroll Administration Area (You may navigate from other products too). This is a two part
entry. In the first screen, you enter the basic details (Header) like Name, Type, Description, Legislative Data Group (LDG)
and Effective Date of Fast Formula. And in the second part, you can code the Formula.
Name: Name is a unique and a required column.
We can create a fast formula with or without the Legislative Data Group (LDG). We will discuss the importance of LDG later in a different section.
If you provide a LDG, then the uniqueness is validated within the LDG while saving the formula.
If you have not provided a LDG, it will be considered as a global Fast Formula and the name has to be unique within the LDG and global Fast
Formulas.
Type: Type is a required column. Once the name is entered, you can select the Formula Type. In our example, we use the
Benefit Eligibility type, “Participation and Rate Eligibility.
For example, in one case, the user has created a Fast Formula in Compensation Work Bench’s Formula type,
‘Compensation Default and Override Rule’ and wanted to attach the formula in Total Compensation Items and found
that the formula is not available. The user should know the type and where it is used.
Description: It is an optional column.
Legislative Data Group: You do not need to select a LDG. It is an optional column but some formula types need the LDG.
This mandatory attribute is defined in Formula Type of the Fast Formula. If the formula type defines the LDG attribute as
required, then you will not be able to save the Formula without selecting LDG. For example, Formula Type, “Absence”
does not allow to save without LDG. In our example, we are creating Global Formula and therefore we are not selecting
the LDG for Fast Formula.
Effective Start date: This decides the availability of the Fast Formula for the products to select in their setups. One
suggestion is to specify a date as early as possible.
For example, in one case, a formula in Total Compensation Item was created on current date (1-1-2016) and attached to
the setup and the setup was processed for the period of 2015 (Jan 1 to Dec 31, 2015). The processed resulted in an
error as the Formula is not compiled. The process was looking for a compiled formula and it was not available but the
user is trying to compile the Formula again and again, still it is not working. Therefore, you need to understand the
importance of Effective Start Date.
In the second part of the Fast Formula, you can code the logic for the fast formula.
ELIGIBLE = ‘Y’
Return ELIGIBLE
In our example, we have provided a simple Fast Formula to explain the steps.
Save & Submit
Once the code is written for the fast formula, you can save the formula and submit the formula. The difference between
saving and submitting is that the saved formula can be edited immediately but submitted formula cannot be edited
immediately.
Compile
Once you submit the formula, you will need to compile the formula. Once you press the compile button, you will see a
popup to confirm the compilation (Sometimes the popup does not appear, you may need to click the compile button
again) Compilation will initiate an ESS process internally. Once the compilation has started the “Compile Status” icon will
change from “X” to a Clock icon. To see the status of the compilation, you need to press the refresh button. Once the
compilation is complete, the “Compile Status” icon will show the result.
In case of an error, the error message will be displayed below the Formula editor window. In some releases, you can see
the log from the ESS monitor page. (You can use any monitor page. For example, Compensation Work Bench monitor
page, Compensation -> Run Batch Process -> Monitor Process)
Search and Edit the Fast Formula:
To Edit or Delete the Formula you need to search the formula first. If the Formula is created for a LDG, then you must
provide the LDG when searching the formula though it is not a required column. If the Formula is Global (i.e. no LDG was
specified while creating the formula), you must not provide the LDG information.
The edit feature provides four options (Correct, Update, Delete and End date) to edit (Since we are not discussing the
date tracking, I do not want to get into details about these four options). You can use the “Correct” to edit the Fast
formula. Once you change a Formula, the Compiled Status automatically changes to invalid. You need to Save/Commit
and compile the formula again.
In our previous blog, we mentioned that the Benefit Eligibility formula expects the return variable “ELIGIBLE”. You can
change the variable to something else. For example
RETURNVAL = ‘Y’
RETURN RETURNVAL
Still the formula compiles fine because the Formula engine does not impose this rule and the rule is validated by the
Benefit, Eligibility. But the benefit eligibility will not work as expected.
This concludes the description of how to create, edit and compile a Fast Formula.
Hope this gives you some basic information about the Fast Formula entry steps.
If you have any comments or suggestions, please feel free to provide your comments below.