Close Parallels after shutting down last VM

I want Parallels to close completely when I shutdown the last running VM. I can open the Windows app from the App Shortcut on Mac, which will then launch Parallels, starting the VM and opening my application, with Parallels almost transparent to me. Once I am finished with the application, I have to shutdown Windows, but then I still have the VM window open, and then the Parallels App open. I don't need either of these to remain open.

It is not a regular use case for me to close one VM, then want to open another.

This could be a setting in Preferences, that can be toggled.