Specifying Bluetooth file sharing/ exchange preferences

I’d forgotten how to do this for my new phone. I wanted to specify a default folder for all the files transferred, via Bluetooth, from my phone to my Mac. Finally managed to figure it out after a while. Am posting this for future reference:

#1: System Preferences –> Bluetooth
System Preferences - Bluetooth

#2: Sharing –> Bluetooth File Exchange –> “Folder for accepted items”
Bluetooth - File Sharing set-up

Piece of cake.