It depends on who manages your Xero Practice Manager (XPM) jobs in Practice Connect.
If Rechargly manages your jobs (the default)
You do not need to create the new Subscriptions jobs yourself. When the new financial year begins, Rechargly creates the jobs for the new year for you, and closes the old ones automatically once their costs have been invoiced.
If you use your own XPM jobs
If you chose to manage your own jobs during setup, this automation does not apply. When the new financial year begins, you need to create the new jobs for your clients in XPM, then map each client to the correct new job in Practice Connect.
For the steps, see Using your own XPM jobs in Practice Connect.