Manual Recurring Invoice -- Renewal Date?

[Ken]

If you create a recurring invoice and set it to 1 month indefinitely why does it need a renewal date -- what is it renewing exactly?  It forces you to select one.

 

If you setup a set amount of payments, let's say 12 months, what does setting a renewal date do exactly -- wouldn't the renewal date be at the end of the term?

[Cody]

The renew date is the date that the next invoice is due. In some instances you may want to create an invoice for today (2013-09-13), but you want the next invoice to be due on the 1st, so you set the renew date for 2013-10-01. If you set the term to 1 month, then another invoice will be generated on 2013-11-01, etc.

 

More details on Creating Invoices in the manual.