I know this must be very simple, but I can not figure it out! How do you enter a item that did not sell into the ledger? Also, is there a way to enter the shipping, auction fees, and the cost of the item from the invoice or does it have to be entered one by one into the ledger.

Why are you entering an item that didn't sell into the ledger?

I want to use the ledger to show profit and loss as in a spread sheet. Is there another place to do this? Thanks

It sounds like you want to enter the auction fees into the ledger. Personally, I post my auction fees once a month only, using my eBay invoice for the amount. I post them as an expense.