I hope they deprecate the money data type in SQL Server

In SQL Server 2000 and 2005 you have the money data type and the smallmoney data type. (Oracle doesn't have this data type)

You wouldn't think there is anything smaller than a penny or a cent in money matters, so why did they designed these data types with 4 decimal places? To help hackers puts all the partial pennies in a separate bank account? :-p or to keep compatibility with Excel and allow easier data import from Excel spreadsheets?


Apparently, the only reason is to let developers insert currency symbols that won't be preserved:

USE tempdb;
GO
CREATE TABLE TestMoney (cola INT PRIMARY KEY, colb MONEY);
GO
SET NOCOUNT ON;
GO

-- The following three INSERT statements work.
INSERT INTO TestMoney VALUES (1, $123.45);
GO
INSERT INTO TestMoney VALUES (2, $123123.45);
GO
INSERT INTO TestMoney VALUES (3, CAST('$444,123.45' AS MONEY) );
GO

-- This INSERT statement gets an error because of the comma
-- separator in the money string.
INSERT INTO TestMoney VALUES (3, $555,123.45);
GO
SET NOCOUNT OFF;
GO
SELECT * FROM TestMoney;



GO

DECLARE @dollars AS money SET @dollars = $100 SELECT @dollars

The value returned is 100.0000, without a currency symbol.

If you're a developer, these data types will make you round your values to two decimal places before retrieving them to your UI and they will also give you a couple of headaches with calculated data.

http://www.sqlteam.com/forums/topic.asp?TOPIC_ID=92830

Stay away from the money type, use decimal instead.