A fraction of the total photospheric magnetic flux opens to the heliosphere to form the interplanetary magnetic field carried by the solar wind. While this open flux is critical to our understanding of the generation and evolution of the solar magnetic field, direct measurements are generally limited to single‐point measurements taken in situ by heliospheric spacecraft. An observed latitude invariance in the radial component of the magnetic field suggests that extrapolation from such single‐point measurements to total heliospheric magnetic flux is possible. In this study we test this assumption using estimates of total heliospheric flux from well‐separated heliospheric spacecraft and conclude that single‐point measurements are indeed adequate proxies for the total heliospheric magnetic flux, though care must be taken when comparing flux estimates from data collected at different heliocentric distances.