Layer Masks and Clipping Masks?

Is there a clipping mask or layer mask edit/effect for storyboard pro 6, like layer masks in photoshop? I don’t want to continuously draw and erase on layers just to get the drawing object perfectly on the scene.

Clipping masks also allow you to hide portions of an image, but these masks are created with multiple layers, where as, layer masks only use a single layer. A clipping mask is a shape that masks other artwork and only reveals what lies within the shape.
Thanks and Best Regards:

I understand the difference you described above, but the question remains, does SBP 6.0 support clipping masks, or layer masks? I can’t seem to find either.