The way I was taught:
1) Write the skeleton equation.
2) Balance elements other than H and O
3) As a group, balance any polyatomic ions
4) Balance H
5) Balance O
6) Check that ratios are in lowest term
Well that's how I jotted down the notes...in a practical sense I always went about it intuitively rather than systematically. Balancing H's and O's last seem to work though. Also if the given equation is correct, then it will balance easier. Sometimes I find one impossible to balance and then realize that it isn't even right to begin with.