Would depend on size of hole/crack. Your not going to have great success filling in a large crack or hole with polyfilla or easifil compound.
Multi-Finish is not really designed to fill holes and cracks either!
Small cracks would ideally filled by the fine powder products, such as easifill/polyfilla.
Larger holes/cracks would require a possibly a couple of application, one to fill in the meat of the hole/crack, then a second to smooth out. This would require two differing products, such bonding to fill the hole, then multi-finish to give a smooth wall surface.
*could also be possible to smooth out with easifill, this would require sanding down, and very likely two or three application to get an even, smooth finish*
Medium size holes and crack could be dealt with by one coat, but anything greater than 10mm depth, I would be recommending filling out, then skimming over.