I don't know what was posted previously on this question, but when I set the timing I just align the cutout on the sensor plate with the notch in the timing chain cover where it mounts. I'm pretty certain this is how the factory sets it, and it works well for the 4 bikes I have owned.
That cutout is where you can see the actual timing marks. The trouble is, to put a timing light on the marks and actually see them you need to remove the front wheel and the forks.