Short answer is yes, it is a type of counseling. What to do after the verbal counseling all depends the situation.
Verbal counseling is used for minor infractions. It is wise to document your verbal counseling in your leaders note book in the event you need to reference it again in the future. Your note should include: time, date, and what happened. Just a few lines to jar your memory. You can use this information in monthly counseling statement to let the Soldier know you are tracking substandard behavior. If the Soldier commits the same offense in the future you can formally counsel them on a DA Form 4856 and include a statement such as: on (date of verbal counseling) I verbally counseled you for the same behavior.