What is the best data type for MONEY in MySQL?

We can store the money values in MySQL in decimal(value1,value2). Here, value1 is the total range including value2. The value2 specifies the number of digits after the decimal point.

What data type is best for MONEY?

The best datatype to use for currency in C# is decimal. The decimal type is a 128-bit data type suitable for financial and monetary calculations. The decimal type can represent values ranging from 1.0 * 10^-28 to approximately 7.9 * 10^28 with 28-29 significant digits.

What data type should MONEY be SQL?

"The MONEY data type could result in unintentional loss of precision from rounding errors. It's better to use the DECIMAL data type."

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 data type for dollar amount?

Money Data Type. The money data type is an abstract data type. Money values are stored significant to two decimal places. These values are rounded to their amounts in dollars and cents or other currency units on input and output, and arithmetic operations on the money data type retain two-decimal-place precision.

MySQL : Best data type to store money values in MySQL

How do you store money in a database?

The first important rule is, always store values as fractional units. It can be tempting to store a value such as $10 as 10.00 in your database. However, storing monetary values with a decimal point can cause a lot of issues. Instead, you should always store monetary values in their minor unit form.

Should you use float for money?

Float and double are bad for financial (even for military use) world, never use them for monetary calculations. If precision is one of your requirements, use BigDecimal instead.

What is the best datatype to use for column containing currency values?

Fixed Decimal Number data type – This data type is also known as the currency data type. In this, there is a specific location fixed for providing the decimal. The decimal separator usually has 4 digits to the right. About 19 digits get significance beyond the decimal separator.

Which data type is best for currency amounts in Java?

1 Answer. Java has Currency class that represents the ISO 4217 currency codes. BigDecimal is the best type for representing currency decimal values.

What is the best data type to store number 5?

Use DECIMAL for decimal numbers. In your case DECIMAL(5,3) for five digits in total of which three are decimal places.

What is small money data type?

The SMALLMONEY data type holds monetary or currency values. SMALLMONEY accepts values from -214,748.3648 to 214,748.3647. A period is used to separate partial from whole monetary units like cents.

How do I store Dollar amounts in SQL?

In Microsoft® SQL Server™ 2000, monetary data is stored using the money and smallmoney data types. Monetary data can be stored to an accuracy of four decimal places. Use the money data type to store values in the range from -922,337,203,685,477.5808 through +922,337,203,685,477.5807 (requires 8 bytes to store a value).

Which are the two types of money data types?

The money and smallmoney data types are accurate to a ten-thousandth of the monetary units that they represent. For Informatica, the money and smallmoney data types are accurate to a one-hundredth of the monetary units that they represent.

Is currency a data type in SQL?

It's simply a decimal type with less precision than a decimal .

Why use BigDecimal instead of double?

A BigDecimal is an exact way of representing numbers. A Double has a certain precision. Working with doubles of various magnitudes (say d1=1000.0 and d2=0.001 ) could result in the 0.001 being dropped alltogether when summing as the difference in magnitude is so large. With BigDecimal this would not happen.

What is DAX currency?

Currency DAX Data type

The Currency data type, also known as Fixed Decimal Number in Power BI, stores a fixed decimal number. It can represent four decimal points and it is internally stored as a 64-bit integer value divided by 10,000.

What are data types used in MySQL?

In MySQL there are three main data types: string, numeric, and date and time.

What is float data type?

Integers and floats are two different kinds of numerical data. An integer (more commonly called an int) is a number without a decimal point. A float is a floating-point number, which means it is a number that has a decimal place.

What data type is currency?

The MONEY data type stores currency amounts. TLike the DECIMAL(p,s) data type, MONEY can store fixed-point numbers up to a maximum of 32 significant digits, where p is the total number of significant digits (the precision) and s is the number of digits to the right of the decimal point (the scale).

Is double good for money?

Float & Double are bad for financial (even for military use) world, never use them for monetary calculations. If precision is one of your requirements, use BigDecimal instead.

Why float is not used in money?

When doing any kind of calculation with currency, accuracy is extremely important. And floating point numbers (floats and doubles) don't have an accurate enough representation to prevent rounding errors from accumulating when doing arithmetic with monetary values.

What is Nvarchar vs varchar?

The key difference between varchar and nvarchar is the way they are stored, varchar is stored as regular 8-bit data(1 byte per character) and nvarchar stores data at 2 bytes per character. Due to this reason, nvarchar can hold upto 4000 characters and it takes double the space as SQL varchar.

How do you handle currency?