If you want to work with a single track, complete the above then click the + to the right of the Sequence 1 tab, to create a new, blank sequence 2.
Then click the SequenceS tab above the bin (top-left) and drag Sequence 1 to the timeline. Now you can ignore (but not delete) Sequence 1.
This is a composite, with effects, transitions, audio embedded that can be exported independent of Sequence 1.
