Since you mention you are researching how to do it properly, the answer is "with a router jig".
A piece of wood with a circle cut in it matching the feature you want. Carefully line it up on your workpiece with 2 additional scraps making a fence referencing the two corner surfaces. Once you have it aligned how you want, screw/glue the fences to lock them onto your template. Make sure they overhang into your cut-out circle so that you can run a template bit through it to trim them tight to the hole. Doing this means they will provide some support to prevent blowout. Now you can align it to the square corner of your board and clamp it on, then quickly copy the feature to all corners using the same template/bearing bit.