Decipha is right.
Go to Multi-track view. Arm your track for recording there. Drag your track audio around and position it where you want it. Then mixdown.
It's also great for loading a pre-recorded track, send to multitrack, arm a different track for recording and you can play along. There will be latency in the track you recorded to. (Did I open a can of worms?) ..but you can position the recorded track info to the correct time location afterward. Quick and dirty, but it works great.