Sharing Folders - Absolute Newbie

[maplewood]

(Sorry if this is brain-dead simple or obvious, I have just now installed VB).

Host: Mac Lion
Guest: Windows XP

How do I save a file created by an application in the host so that I can find and open it in a application running on the Host?
I believe I should be able to "see" directories created on the Guest from the Mac Finder but I have accomplished that just yet.

In the Mac Finder window I see a Device labeled VirtualBox but I don't see how to see the C drive or specifically "shared" Windows directories. Nor have I discovered how to see folders on the Host (Mac).

Please feel free to point me to low-tech-user friendly documentation on this.

[stefan.becker]

Its described in the user manual.