Memberships & Awaiting Approval

Newly applied members have their "member since" date set to the day they apply, but they aren't really members until the Board approves their membership application. To aid in identifying which memberships require approval (and to help filter these "Awaiting Approval" memberships from lists of properly "Current" members) a flag is set on a custom field attached to the membership.

Here's what happens:

A Rule looks for the creation of a new membership (of the type Single, Single Lifetime, Family, Family Lifetime, International). When a new membership is created, the rule sets the field "Awaiting Approval" in the Membership Extras area to "Yes".
This Rule affects ALL relevant memberships - whether they are manually entered or the member completes the form on the website
Assorted Listings for Memberships (Member Directory, Voting Lists, etc) should filter out memberships where "Awaiting Approval" is equal to "Yes"

Once the board has given approval, this flag needs to be removed as follows:

Run the Membership Report "Memberships to Approve" (probably under CiviCRM->Memberships->RMHA Membership Reports). Note: This is actually a search, not a report b/c you can do things to the memberships that are found.
Select the memberships that have been approved
From the "Action" drop-down menu select the option "Update Multiple Memberships"
On the following screen select "