Sales Update R42800 - Recurring Invoices?

Is there anyway to generate a recurring invoice out of the sales system? Has anyone ever asked for this functionality?

We have a business case where we need to disconnect the invoicing and frequency of payments from the customer from how the order is structured. Currently, we must enter an individual line for each payment required, then ship and invoice these lines as each invoicing period is reached. This may not always match the PO received from the customer. These items are typically Support Services. For example a 1 year support contract that is to be billed quarterly.

Finance does not want to use Split Invoicing Payment Terms since this creates an AR balance from day 1 at 100% of the order amount. Finance would prefer that the GL Date Matches the Invoice Date. For example a quarterly payment schedule would create an invoice with GL Date and Invoice Date of 1/1, 4/1, 7/1, and 10/1. The corresponds with how the recurring invoicing function works in the AR Module.