This training video talks about setting up subscriptions, from rolling subscriptions that just roll over each period automatically, or fixed date subscriptions.
Rolling subscriptions has the least amount of maintenance, once setup you usually only change these when the price changes or when a subscription type is no longer valid.
Fixed dates require that you setup the next date range each year, so if annually you will need to create the next years subscription pricing record (and make sure it has the same reference code so the system knows which one to match it to). You can easily copy a subscription and edit the dates too, so it is pretty easy.