what data type do i use when i multiply time by money? excel 2007

[h]:mm X accounting (2 d.p) = ????

The two data types i'm using are shown above but i don't know what data type to use as the result.
If you don't understand, i'll attach an exmple

If your accounting type represents a rate of so much an hour, then your result will be a monetary value, so use accounting or currency for the result. You will also need to multiply by 24 to get the result you expect, as times are stored as fractions of a 24-hour day.

Hope this helps.

Pete

Originally Posted by Pete_UK

If your accounting type represents a rate of so much an hour, then your result will be a monetary value, so use accounting or currency for the result.

Sorry, my mistake. The total kept appearing as "#VALUE!" but i just figured out it's because i used "£-" as a place holder on the hourly rate.

Would you happen to know why the previous spreadsheets i'm copying use a custom data type for the total? (shown below)
_-£#,##0.00_-;-£#,##0.00_-;_-£"-"??_-;_-@_-

Originally Posted by Norie

Formatting should not affect calculation.

Can you upload an example workbook?

Pete answered my original question, however:

Column C is the original custom data type (for the total). I was wodering if you know why it was used over simply using the accounting data type (used for the total in column D)?

example 2.xlsx