Scoop spackling compound into a spackling tray with a putty knife. The spackling tray will allow you to have quick and easy access to the compound when working on the wall.
Select a putty knife based on the size of the repair. Small pin or tack holes can be patched using a small knife while larger holes and joints between drywall panels will require a wide knife. The process is essentially the same to fix both large and small issues on walls.
Apply a moderate amount of spackling compound to the edge of the knife and drag it across the surface of the wall over the area in need of repair. Spread the compound so that it is thick over the area in need of repair and thins or feathers out around the surrounding area. This will help conceal the repair. If needed, go over the area where you applied the spackling compound and smooth it out. Allow the compound to dry overnight.
Sand the spackled area with the medium-grit side of a sanding sponge. Turn the sponge over and continue sanding with the fine-grit side. Rub your hand over the wall without looking at it. If you can feel imperfections, you will need a second coat.
Follow the same procedure in Steps 3 and 4 to apply and sand additional coats of spackling compound until you can no longer feel imperfections in the wall. The wall is then ready for paint.