VSCode Jira and Bitbucket extension guide required

[ron w]

I have tried to set up the VSCode Jira and Bitbucket extension, but I think I have gone terribly wrong somewhere along the line :-( 

So far, these are my assumptions that I have read from various sources on the net.

1) To be able to use the Bitbucket features and the Jira features from the extension, I believe that I need to have both a Bitbucket account and a Jira account. In light of this, I have created an account on both Bitbucket and Jira (both free accounts).

2) I also read that the accounts need to be connected to each other, so AFAICT, I have done this.

From VSCode, I can now push/pull code, and I can create Bitbucket issues. But when I try to create a Jira ticket, I get "No fields found for selected project. Please choose another.", and it looks like there are no projects set up for Jira.

Can someone tell me if my assumptions above are correct, and more importantly, does anyone have (or can point me to) a simple bulletproof step-by-step to setting this all up from scratch, as I can't be the only one having issues with this?