The General Ledger is a detailed report for all transactions posted to each account and for every transaction there is a Credit and Debit account so it lists them all up.
A Balance Sheet is the financial statement of a company which states assets, liabilities and equity at a particular point in time.
The Balance Sheet in Parsimony gives you more flexibility to analyze your financial position. You can run the report across multiple year to compare values. You can check values for a specific Finance Book or Cost Center. You can also choose any other currency to display the balances.