How to do pricing index on a Subscription?

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**This post was created as part of a How to Service Request (SR)

Release:

22A

Summary of the question:

User has a requirement of pricing indexation where the price on a subscription line is updated over the term of the Subscription.

For example,

Subscription 1 : Price index 5% (indicated at the Subscription Header), 3 year contract 1/1/2022 - 12/31/2024

Line 1 - item # ABC, Unit price # $100, Billing Freq # yearly and Start date = 1-JAN-2022, End Date = 31-DEC-2024.

Now on 1-JAN-2023, customer would like to update the subscription with 10% increase in the price i.e $110 and on 1-Jan-2024 there would be a further 10% increase to the price i.e $121.