A video uploaded by the European Society of Urology shows a detailed example of how female Gender Confirming Surgery (GCS) works and it is indeed far more complex than simply removing the penis.
The animation shows a surgeon opening up the scrotum, removing the testicles, and removing the head of the penis to create a clitoris. The shaft and the scrotum are then used to create the labia and vaginal canal that will permit patients to have a healthy and enjoyable sex life.
https://vimeo.com/147806692