How to use an inline reel?

[Kent]

I just picked up two inline reels.  I have minimal experience with them.  I hate to admit it but I have owned one for years, but never really used it.  I noticed on the reels that there isn't the typical line guide, nor does the spool move in and out like a spinning reel.  I take it that the V shaped extensions on the reel body (see images below) guides the line back onto the reel when reeling.  Is my assumption correct?