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Recurring Product


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I have a product that needs to do a recurring monthly invoice on the 15th of each month for service in the next month. So for example on April 15th the product should invoice for service from May 1st to May 31st.  Can anybody suggest how to create this product? 

Additionally we don't want to prorate service. So if we add the product to the client on April 10th (before the 15th regular invoice) then no invoice should be generated at time of order. Instead the first invoice should be generated on April 15th for service in May. If the product is added on April 25 (after the 15th regular invoice  date) an invoice should be generated immediately for May service.

Any guidance the community could offer would be greatly appreciated.


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