cPanel's billing system runs on the 1st of each month. If the invoice is unsuccessful the system will attempt to renew using the primary card on file once a day and will stop attempting after the 4th day of the month. If billing is unsuccessful then the licenses will expire.
The system will provide an invoice after payment has successfully been processed and the invoice for the purchase is available to view inside of the cPanel store account at https://store.cpanel.net/my/orders
It will list all of your previous invoices, currently due invoices, and past due invoices for the account.