You can use an Auxiliary track as an input for recording. This means you can add an effect to the signal as it is recording so the effect is printed on the recording. I use a hard compressor on the way in to avoid any peaks when recording. Set your input to an aux channel, put a compressor or maybe limiter on it and then buss the output of the aux track to the track you want to record to. ie. Input- aux - track1 (for kick).
But once recorded the effect is printed on so cannot be undone. So that is why i only use this method to stop peask rather than to add an effect that changes the sound in a way i want it to. That is left to the mixing stage.