Hi @Dinesh,
welcome to the community.
The license FAQ mentions the following for annual subscriptions:
Annual: Annual subscriptions can be paid via credit card, mailed check or bank transfer, complete payment details appear on an official quote. To request a quote for the annual payment option, please Contact Us with your Atlassian Cloud URL or SEN (SEN-XXXXXX).
If you worry about the timeframe, you could also start your work in your Jira instance already and maybe pay the first month separately until your Cloud instance is switched to annual billing.
Cheers,
Matthias.
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