Hole Wizard and Smart fasteners are one of the SOLIDWORKS tools that comes with advanced functions where it able to track down an accurate fastener based on user-defined during the part creation.
STEP 1: Specify the hole information such as Standard, Type, and hole specifications.
STEP 2: During SOLIDWORKS assembly session, click on the Smart Fasteners to called up all of the fasteners from the Toolbox.
STEP 3: Simply click on the part Face and SOLIDWORKS will automatically recognize the type of fastener that matches with hole features. Next, click Add.
STEP 4: From the left side setting, we can change the fastener information under Properties.
STEP 5: Noted that the part of the fastener will be added under the Mates folder and if it requires modifying the part, simply right-click at the smart fastener folder and choose Edit Smart Fastener.