I tried the steps you listed and it was a no go.
Starting from all default settings, I set the key on the menu/dash as directed, entered my chords and saved the song. Play back was out of tune.

I guess I have a lot going on as of late, as I realized I had already accomplished what I asked about here. By selecting transpose to Alto in the chord display drop down menu (forgot that I left my Tenor at a different location) I had already met my goal because after that action, whatever chord I typed in after the fact would have accompaniment playing to the tune of whatever instrument I selected (in this case alto) which was the case. Of course I didn't type the notes intended for Tenor during setup.

Thanks again for your help and comment on the screen name, I don't have any loose "screws" but I tend to fixate on tasks from time to time so it fits.

So far Ernie Watts plays my favorite version of Footprints here at time marker 2:01.

https://www.youtube.com/watch?v=5vYrytqhtic