the process is exactly the same with fondant as with BC.
Try watching this video by Tonedna:
http://www.youtube.com/watch?v=NvaCSW78ybc&feature=channel
That should give you a good handle on things.
Are you talking about the hole left on top from inserting a wooden dowel into the cake? Usually the top decoration will cover the hole in a fondant covered cake. If there is no decoration on top, then fill the hole with buttercream and smooth on top, should blend right in with the fondant and cover the hole.
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