I pioneered Dave's method, so you know what I do.

But I do luv gadgets... so, lets see what it does...
https://www.youtube.com/watch?v=9NC8p5hbJSAput it on the face of the sprocket and chase down the edge of the chain.
our pulley has a recessed face and a rim to look over.
I suppose you place the tool on the rim and the paper gage on the belt and you run the paper gage down the belt.
Doesn't look like fun.
I think you can use a ruler instead of the gage, any non reflective type will work.
be careful around reflective bits or you'll blind yourself. effectively rules use on Hardleys out.
And you'd need to do it on front and back pulleys to get it perfect.
Now my method is simple.
jack the rear tire off the ground and spin it.
watch the belt, does it run left or right, ideally you want a little gap on both sides.
if it runs left, tighten the left adjuster (loosen axle 1st) and vice versa for the right.
now spin the wheel the other way, try to get a compromise (dam liberals)