Hello @dpro 

Schedule is to turn on/ off device at a scheduled time or at sunset/ sunset.

Tapo Smart action could be a Shortcut/ Automation: 

• Shortcut lets you perform an action with a simple tap.e.g. turn on all tapo bulbs together
• Automation  if a Trigger happens then execute an Action.e.g if tapo plug is turned on, then turn on tapo bulb.

Here are some instructions help us learn more about this feature, you could delve further for more scenarios!

Automate Your Home with Smart Actions

How to create an automation or a shortcut of my Tapo device (smart bulb, smart plug, smart camera)