Canceling RMAs with Workflows

Hi - I am trying to create a workflow that will cancel and RMAs that are in the "pending approval" status and have expired.

I created a Workflow with the following properties:

Record Type: Transaction

Sub Types: RMA

Initiation: Scheduled

Saved Search Filter: I've selected the saved search I want it to run on - there are results present

Release Status: Testing and I have enabled Logging and keep instance and history.

For my actions, I have the following properties set for State 1:

Type: Set Field Value

Trigger On: Entry

Event Types: None

Contexts: All

Saved Search Condition: Same saved search used above