The answer is yes.
From the NewViews help item – Balance Forward versus Open Item
“In NewViews, any account can be managed using either the balance forward or open item method and these methods are not mutually exclusive. You can use the balance forward method for some customers and the open item method for others and you can switch from one method to the other at any time. However, if you employ both methods you should separate balance forward from open item accounts on the same or different reports to easily identify the method used for any customer, to conveniently produce aged reports that include only open item customers, and to produce statements of the correct type automatically using procedures.”