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Can Magento be used for a website that provides recurring services? In my situation i need a customer portal on back end that i can update once certain tasks are completed (in a simple table format) , on the front end customer will see what services has been performed.

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Maybe the Magento feature list can help you out:

Take a look here:

https://info.magento.com/rs/magentocommerce/images/Magento%20Full%20Features%20List%20052714.pdf

Magento has some features onboard for recurring payment, which needs to be mentioned that it still is in beta.

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