What data type should be used for MONEY?

Although the MONEY datatype generally takes less storage, and takes less bandwidth when sent over networks, via TDS, it is generally far better to use a data type such as the DECIMAL or NUMERIC type, which is less likely to suffer from rounding errors or scale overflow.

What is the data type for salary in MySQL?

MySQL DECIMAL data type and monetary data We often use the DECIMAL data type for monetary data such as prices, salary, account balances, etc.

What is the MONEY type?

In a Nutshell. The four most relevant types of money are commodity money, fiat money, fiduciary money, and commercial bank money. Commodity money relies on intrinsically valuable commodities that act as a medium of exchange. Fiat money, on the other hand, gets its value from a government order.

Is MONEY a datatype in SQL?

The MONEY datatype in SQL server is intrinsically less precise than the DECIMAL datatype in calculations. SELECT 23/7 returns 3, since SQL Server has done integer division. If SQL Server performs calculations on the MONEY datatype, intermediate values are stored internally as MONEY datatypes.

What data type is a price?

The best type for price column should be DECIMAL. The type DECIMAL stores the value precisely. For Example – DECIMAL(10,2) can be used to store price value. It means the total digit will be 10 and two digits will be after decimal point.

What are 3 types of money?

Money comes in three forms: commodity money, fiat money, and fiduciary money. Most modern monetary systems are based on fiat money. Commodity money derives its value from the commodity of which it is made, while fiat money has value only by the order of the government.

What is the best data type for MONEY in SQL?

1 Answer

You must use fixed-point numeric data type for storing the money values in MYSQL like this:
Here, 15 is the precision (i.e. total length of value including decimal places) and 2 is the number of digits after the decimal point.
Note: As money needs an exact representation.

What is small MONEY?

nounsmall amount of money. Mickey Mouse. chump change. coins. nickels and dimes.

What kind of data type is E _ salary?

All entries of one particular column will be of the same data type. Consider the salary table from an employee database. Let’s take the e_salary column, for example. The first value in this column is of an integer type; the second is also of the integer type and, similarly, all the other entries of the e_salary column are of integer type.

What do the data types do in SQL?

SQL Data Type is an attribute that specifies the type of data of any object. Each column, variable and expression has a related data type in SQL. You can use these data types while creating your tables. You can choose a data type for a table column based on your requirement.

What’s the best data type to store salary?

Dedicated data type, accurate to 10000th of the unit used. Please Sign up or sign in to vote. I think u can use decimal or money data type.. cannot store double into decimal .. thank you so much for your valuable reply …. mark as answer for this…. The content must be between 30 and 50000 characters. … Download, Vote, Comment, Publish.

Do you need a name and data type for a SQL table?

Each column in a database table is required to have a name and a data type. An SQL developer must decide what type of data that will be stored inside each column when creating a table.