A monthly/yearly subscriptions' billing date is determined by default to be the date the subscription was created.

For example, a customer with a monthly subscription set to cycle on the 3rd of the month will always be billed on the 3rd.

If a customer makes their first payment on January 3rd, by default the next payment due date would be February 3rd. If payment is not paid on February 3rd, customers have a 7-day grace period to make a payment while continuing to enjoy the benefits of their previous subscription. The new benefits will only be credited once a payment succesful has been made. No adjustment will be happen on the next billing cycle date, which still would fall on the 3rd of each month for this customer.

If a month doesn't have such an anchor day, the subscription will be billed on the last day of the month. For example, a subscription starting on January 31st bills on February 28th (or February 29th in a leap year), then March 31st, April 30th, and so on.

The same theory applies for yearly subscription with a 7-day grace period.

During the 7-day grace period customers will still keep whichever benefits remain from the previous months' subscription.

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