In the absence of an ISV solution for equipment or property leasing, subscription billing can be used to handle the recurring billing functionality. However there is no integration with asset management in D365FO. It should be possible to select an asset on the contract header and on the billing lines which could be used to report on the asset being leased. Alternatively, there could be a link to the Fixed assets module.

The end goal is to be able to link a billing schedule to an asset for reporting and analytics purposes.