Identify the elements or ions in the compound
Write the chemical formula of the compound
Find the charge of each ion or the combining capacity of each element
Use common valency rules for elements with fixed valency
Use the criss-cross method for ionic compounds
Balance positive and negative valencies so the total charge becomes zero
For polyatomic ions, treat the whole ion as one unit
For covalent compounds, count the number of bonds formed by each atom
Use the periodic table group number for elements with predictable valency
Check the oxidation state if the compound is complex
Verify that the sum of valencies matches the formula of the compound