Here, we are going to add a tool to your library.  Note that its common to have several tools in your library.

To create a router tool, click the small icon that looks like a drill bit shown here.

The Rotary tool dialog will open.  This is where you set the attributes for your new tool. 

In this case we will be using a 2 flute, 1/8" spiral router bit.

Once the settings are updated, hit the OK button to create the tool.

 

The new tool will show up in your tool pane shown here.

You can double click on the tool to change the settings.

With a tool in our tool library we are ready to create some toolpaths.  But first, we need to move some of the items in our drawing into specific layers.  I will show you how to do that in the next section.