Doing an early plugin renewal
Two times a year we have a sale at Bootstrapped Ventures, offering a discount for our plugins. If you already have a license key for one of our plugins, that can be a great time to do an early renewal.
An early renewal is basically renewing before your license key actually expires. You'd do this to make use of a discount code, for example. Any renewal will always add exactly 1 extra year to your license key period, so you'll always get what you pay for!
Cancel any existing subscription first
When you purchased the plugin it set up a subcription for that plugin. This subscription is essentially the automatic renewal that happens yearly. It's not the same thing as your license key.
A subscription can be cancelled at any time through the "Your Subscriptions" section on your account page. When you do that you're only cancelling the automatic renewal. Your license key remains valid (you keep getting updates) and your recipes or settings will not be affected in any way.
If you want to do an early renewal, cancel any existing subscription first. Otherwise you might renew manually today (using the discount code) but then in a few weeks the automatic renewal of the subscription does its thing, and adds another year to your license key period.
Doing the early renewal
Once you've cancelled the existing subscription you can do an early renewal of the existing license key by going to "Your License Keys" on your account page. You'll find an "Extend license" option that you can use to do the early renewal:
Take note that it will only show up if the associated subscription has been cancelled (see above).
After clicking on "Extend license" it will take you to the checkout page. Here you should find that same license key in the shopping cart. Make sure it's the only thing in there. If not, remove everything from the cart and try going through the steps again:
After renewing successfully you can check that it added exactly 1 year to your license key period under "Your License Keys". It will also have set up a subscription set to renew in exactly 1 year. As explained here, those dates can be out of sync.