This is what has always worked for me...you'll need a hand pump, brake fluid and a clear hose(something with an end that fits securely over the bleeder screw)
Remove the brake system from the master cylinder to the caliper.
Remove the brake pads.
Remove the brake resevoir cap.
Secure brake system so the line is straight(veritcally), i mounted my master cylinder to a vice and left the caliper on the ground.
Put fluid in the hand pump resevoir.
Attach clear hose to handpump and fill it with fluid(so your not pumping air into the system).
Attach clear hose to bleeder screw.
Crack bleeder screw 1/4 turn.
Pump fluid slowly and carefully watching for air bubbles through clear hose.
Also watch master cylinder since it will be overflowing, if you will see air bubbles coming out, that is good! Do this until no air bubbles are present.
Install brake pads to caliper.
Install resevoir cap to master cylinder.
Install back onto bike.
Remove resevoir cap to master cylinder, again.
Pump brake pedal while filling resevoir with fluid, carefully making sure fluid is at proper level.
Your done, enjoy your new rear brakes!!!