It is a great practice to review the Execution Log of the R05-SS: Create Renewals nightly (Customization > Scripting > Script Deployments: Script dropdown = R05-SS: Create Renewals nightly). This will help you see if there are errors generated when the script was executed. For instance, this error: "Renewing Contract xxxx:An nlobjSearchFilter contains an invalid operator, or is not in proper syntax: internalid." is shown when the item defined on the Renew With field was set to Inactive. If the item specified Renew With field is inactive, no renewal transaction will be generated.