Yes, you're able to defer billing to be paid at a later date.
Store:
You can defer billing of these smaller purchases to be billed on their next invoice. You set this up in 'Store Set-up' under each individual product.
Memberships:
To defer billing for memberships, you're able to manually prorate a membership, offer a free trial period, or set a different start date. You can also email invoices to members to be paid at a later date (includes the pay-by date).