Set Preferred Bin

This question seems so basic, but I cannot find anywhere that says HOW to set a preferred bin.

We have Advanced Bin Management and Multi-Location Inventory turned on.

We also have Use Preferred Bin on Item Receipts checked as well as Require Bins on All Transactions Except Item Receipts.

The only place I see to set the Preferred Bin is under Purchasing/Inventory > Location > Bin Numbers area.

Is this the only place?

I am asking because while I was at SuiteWorld, I asked why bins had to be added manually under Purchasing/Inventory > Location > Bin Numbers and the Guru told me that since we used Advanced Bin Management, we only needed to look at the Bins under Inventory Detail and didn't need to use or look at the Purchasing/Inventory > Location > Bin Numbers area and the Bins didn't need to be listed there.