Yes. If you use the Audio Montage, you can submix multiple tracks (for overdubbing or voiceovers) and adjust each level independently. Click the 1 button at the left of the waveform, click Insert Below, and a new 'track' will appear. You can now insert a wave file into this location, and it will be mixed with the existing one. Continue to do this as necessary. Some functions are not available- you cannot assign different real-time effects to each file, but you can pan, crossfade, adjust volume, slide left & right, and more.