INVOICE GENERATOR

I'm looking for software to handle my invoicing. I want to be able to add clients, products and projects. A project or a product needs to be invoiced. The invoice must be printed as PDF. The PDF will be emailed or send via regular mail. The software has to be READY and only a view minor adjustments should have to be done !!! Our services are based on a project price but we also offer recurring services (subscriptions). So we also need to be able to define services with a price month, quarter or year that will be generated automatically on a certain date. It would also be nice to add a project and to be able to enter time (timebilling) worked on the project for different kind of employees. So basically we need just regular invoicing software plus the 'automatic generation of recurring invoices' feature. Any extra functionality could come in handy. We'd prefer an opensource online intranet like PHP/MySQL or .NET solution. But any good alternative VB/C++, which really solves my needs, would also do. Regards, Marc