Hi @Sharonmw1
For the most part, yes General Purchases is sufficient. If you’re using a large amount of stock, it may be worth moving the stock balances to Opening / Closing stock at year end.
General sales itself isn’t an asset nor liability so that’s correct for it not to show on the balance sheet. What you will see however, is the profit/loss for the current year, and any retained profits from previous years.
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You may find these posts useful regarding the opening and closing stock balances: