recurring payments

recurring payments

I'm looking to set up a system that will charge a person an amount to initiate their account lets say $500.  And they will have items that decrease that amount and when they get to $50 the system charges them another $500 so their service continues uninterrupted.  I don't want to manually have to bill someone as it will be 100% automated.

Does Books or Subscriptions handle this? If so any links to educate me would be appreciated.