How and When Cycle Bills get created
Determining a "Month"
Cycle bills get created based on your Organizations billing settings. Specifically, how your company defines a "month" (either by the Calendar or 4-weeks). Once this is chosen in your Admin settings, a cycle bill can be created 1x / month.
Determining when in the "Month" the cycle bill gets created
By default, cycle bills will get created on the last day of the "Month". However, if it is important to your organization to create those cycle bills a bit earlier to improve cash flow, you can change the Admin Setting to create the cycle bill on the 21st day of the month
Alternatively, so long as it doesn't already exist, you can create a Cycle Bill for the current or previous cycle at any time by clicking the "Create Invoice" button on an Order and selecting the option for Previous or Current Cycle.