Hello and welcome to this comprehensive guide on SQL Server Data Type Money. Being a database management system developed by Microsoft, SQL Server offers a range of data types that allow efficient data storage and retrieval. Among these data types is Money, which, as the name suggests, is used to store monetary values.
In this article, we will delve deeper into what exactly SQL Server Data Type Money is, its significance, how it works, and much more. We will go through everything you need to know about this data type, including tables and FAQs.
What is SQL Server Data Type Money?
SQL Server Data Type Money is a predefined data type in SQL Server used to store currency values. It allows users to store monetary values within the range of -922,337,203,685,477.5808 to 922,337,203,685,477.5807. Its size is 8 bytes, and it belongs to the exact numeric data type category.
How is Money Data Type Different from Other Numeric Data Types?
The Money data type is different from other numeric data types, such as Decimal and Float, in the following ways:
| Data Type | Range | Storage Size | Accuracy |
|---|---|---|---|
| Money | -922,337,203,685,477.5808 to 922,337,203,685,477.5807 | 8 bytes | 4 decimal places |
| Decimal | -10^38+1 to 10^38-1 | Varies based on precision and scale | Depends on precision and scale |
| Float | -1.79E+308 to 1.79E+308 | 4 or 8 bytes | 15 digits |
As you can see in the table above, Money has a fixed precision of four decimal places, while Decimal has a variable precision based on scale and precision. Float, on the other hand, has less precision but a larger range.
How to Declare a Money Data Type in SQL Server?
To declare a Money data type in SQL Server, use the following syntax:
Syntax: Column_name Money
Here’s an example:
Example: CREATE TABLE Product (Id INT PRIMARY KEY, Name VARCHAR(50), Price Money);
How Does Money Data Type Work?
Money data type works similarly to other numeric data types in SQL Server. However, since it deals with money values, there are some specific considerations to keep in mind when working with Money data type.
How to Insert Money Values into a Table?
To insert a money value into a table, enclose it within quotes and add a currency symbol. Here’s an example:
Example: INSERT INTO Product (Id, Name, Price) VALUES (1, ‘Product A’, ‘$99.99’);
How to Perform Arithmetic Operations on Money Values?
To perform arithmetic operations on Money values, you can use the standard mathematical operators like +, -, /, and *. Here’s an example:
Example: SELECT Price * 10 AS ‘Ten Times Price’ FROM Product;
How to Round a Money Value?
To round a Money value, you can use the ROUND() function. The syntax is as follows:
Syntax: ROUND ( numeric_expression , length [ ,function ] )
Here’s an example:
Example: SELECT ROUND(Price, 2) AS ‘Rounded Price’ FROM Product;
What are the Advantages of Using Money Data Type?
The advantages of using Money data type in SQL Server are:
- It provides built-in support for monetary values.
- It ensures accuracy and precision in monetary calculations.
- It is a standard data type used in many programming languages.
What are the Limitations of Using Money Data Type?
The limitations of using Money data type in SQL Server are:
- It has a fixed precision of four decimal places, which may not be sufficient in some cases.
- It is not suitable for all types of calculations, such as percentage calculations.
- It may not be compatible with some third-party tools that use non-standard data types.
Frequently Asked Questions (FAQs)
Q1. Can I use Money data type to store non-monetary values?
No, Money data type is designed to store monetary values only. If you want to store other numeric values, use other numeric data types such as Decimal or Float.
Q2. Can I use Money data type in a Primary Key column?
Yes, you can use Money data type in a Primary Key column.
Q3. Can I convert Money data type to other data types?
Yes, you can use the CAST() or CONVERT() function to convert Money data type to other data types.
Q4. Can I use Money data type with aggregate functions?
Yes, you can use Money data type with aggregate functions such as SUM() and AVG().
Q5. Can I perform comparison operations on Money values?
Yes, you can perform comparison operations such as <, >, <=, and >= on Money values.
Conclusion
In conclusion, SQL Server Data Type Money is a powerful data type used to store monetary values. It provides a built-in support for monetary values and ensures accuracy and precision in monetary calculations. While it has some limitations, it is a useful data type when working with financial data. We hope this article has been insightful and comprehensive enough to help you understand everything you need to know about Money data type in SQL Server.