We can use a Constituent Revenue Application Dates Smart Field filtered on Membership Transactions in order to obtain the most recent transaction date. 

Step 1: Create Smart Field
  1. Go to Administration > Smart Fields.
  2. Click Add.
  3. Select Constituent Revenue Application Dates > Click Okay
  4. Name the smart field
  5. Go to the Parameters tab.
  6. Select the Value to Return as Latest Application Date
  7. Mark the revenue type: Membership
  8. Mark the Application/Transaction Types:
    1. Under Order, Mark the Box next to Membership
    2. Under Payments, Mark the Box next to Membership
  9. Click Okay
Step 2: Process the Smart Field

Step 3: Create a Job Schedule
  1. Click the Job Schedules Tab
  2. Click Add
  3. Name the Job Schedule
  4. Schedule Type - Daily
  5. Occurs Once at - 3:00 am or other time outside business hours
  6. Starting at - Enter Today's Date