Modify the name of an item with Month variable

Modify the name of an item with Month variable

Hello, I am using Zoho books as a Point of Sale.
I am trying to change my old system, to do that I need help with the next:

1. If there is a way to have a formula in the name of the item,
For example I have an item with the name of "Mensualidad" that means "Monthly payment" and I would like the name to change depending of the month of the recurring invoice,
For example in June:
  1. Mensualidad de Junio
  2. JUNE PAYMENT
  3. 6 PAYMENT
2. I also need to add a custom field that shows the last payment of the customer, very similar to the graph of income, but with TEXT, for example "Mensualidad Junio", the item that we just created in the last point, so I can Know what I need to charge.