Average Days Late Weighted (AvgDaysLateWeighted) is calculated for every customer account representing the average number of days they are late on paying any invoice (regardless of invoice size) but weighted based on the amount past due.
Average Days Late Weighted is calculated by:
Calculate Days Amount for all invoices by taking the number of days late multiplied by the amount past due.
For example:
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Invoice 1 is 1 day late with a balance due of $100 or $100 Days Late Weighted value ($100 x 1 = $100)
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Invoice 2 is 30 Days Late with a balance due of $10,000 or days late weighted value of $300,000 ($10,000 x 30 = $300,000)
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Invoice 3 is 1 day late with a balance due of $50 for a days late weighted value of $50 ($50 x 1 = $50)
Summarize the days late weighted amounts across all invoices. In this example the days late weighted total is $300,150 ($300,000 + $100 + $50).
Summarize the invoice amount due. In this example the value is $10,150 ($100 + $10,000 + $50).
Divide the sum of Days Amount Weighted by the sum of the Invoice Amount. In this example the value would be 29.57 ($300,150 divided by $10,150 = 29.57).
Fields used in calculation found on My Account:
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AvgDaysLate
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AvgDaysLateWeighted
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AvgDaysLateDiff
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AvgDaysAmtTotal
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AvgDaysCountTotal
NOTE: The customer has to have an invoice that has been paid in full and synced into the application for the calculation, otherwise this will be calculated as zero until first invoice is paid in full.