Number of Overdue Invoices and Their Total and Average Monetary Value

Number of Overdue Invoices and Their Total and Average Monetary Value

Number of overdue invoices and their total and average monetary value is an accounts payable key performance indicator that shows the number of invoices that were not paid by their payment date (Due Date) and total and average liabilities amount in money that was not paid in time to creditors by such invoices. This KPI is used in financial and management accounting.

To view the number of overdue invoices and their total or average monetary value please follow the steps described below:

• Create workflow with different statuses of invoices



• Create the custom field "Monetary Value":
  • Go to: Tools/Custom fields and press "Ins" button
  • In "Title" field enter "Monetary Value"
  • In "Code" field enter "cf_monetary value"
  • In "Type" field select "Currency" and click "Ok" button



• Create custom field "Closure Date":
• Go to: Tools/Custom fields and press "Ins" button
• In "Title" field enter "Closure Date"
• In "Code" field enter "cf_closure_date"
• In "Type" field select "Date" and click "Ok" button



• Create custom field "Overdue Time"
  • Go to: Tools/Custom fields and press "Ins" button
  • In "Title" field enter "Overdue Time"
  • In "Code" field enter "cf_overdue_time"
  • In "Type" field select "Duration"
  • In Formula field enter the formula below and click "Ok" button:

$due_date - $cf_closure_date



• If you need to view the number of overdue invoices and the total or average monetary value of overdue invoices per particular project on Task List, filter your to-do list by task group with project tasks.



• Set filter by custom field "Overdue Time"



• Set footer:
  • right click under column "Monetary Value"
  • select "Count" to display the number of overdue invoices



• select "Sum" to display total monetary value of overdue invoices



• select "Average" to display average monetary value of overdue invoices