Once-off annual membership

Hi all,
Considering setting up my membership website with GravityForms (via User Registrations add-on) and am wondering if it’s possible to set up a once-off annual membership payment option, which would result in the user’s role being updated to ‘Member’ for one year from the payment date (and then if they don’t pay after the year is up, the user’s role is updated to ‘Expired’)?

I can see that it’s already possible to set up a recurring annual membership option (which I’d also like to set up as an option).