No. A schematic is a stylized drawing of how the layout operates. You may have a continuous loop with a number of sidings, but operate it as if it was part of a much bigger system. The schematic would show the layout, but in a linear fashion, perhaps with a dotted line to illustrate that there is in fact an allowance for continuous run.
The difference between a sketch and actually drawing the plan is just what it sounds like. The track planning software will allow you to draw your plan accurately to scale so you can build benchwork the proper size, or estimate how much flex track you'll need.
Perhaps we should back up a bit and ask why you want a schematic...? In your initial post, you ask for help with operations. You can do this with or without a schematic, but the schematic would certainly provide information on how you see your railroad.
Andrew
We all do that at some time.