Hi 

I am wondering if anyone could help me. 

I got myself a figure setup tool because I wanted to rig the clothings I made - but the daz website is rather vague on that part. 

So if anyone can help me - how do one rig clothings with the tool? 

There is a rather detailed manual and several videos on YouTube. The videos are the most informative. Look the the DAZ3D channel on YT
It's definitely not something that can be described in a forum post

 But it's sooo mind-numbing. 

I could not understand how to import or place the bones from V4 into the clothings 

Welcome to the club. It is a rather complex subject. The basic idea is:

• Import V4 in the scene
• From the FST menu select "Copy from selected figure"
• Right click in the geometry pane and select import geometry. Import your OBJ
• Drag-and-drop your geometry in the imported hierarchy, the list of bones imported from V4. Use the hip bone as your root.
• Remove all the IKs.
• Remove the bones that are not used. For example finger, if you are making a pair of pants.
• Rename the hierarchy label to remove the original V4 label.
• With V4 selected click on the FST tool menu and select "Paste into figure". V4 will be replaced with your outfit rigged properly.

Tada!

 Thanks :D I shall try that out... :D