Short answer: No.
Longer answer: This is a request that has been made before, so I expect it is on the "wish list" for future development. However, this would break the compatibility with ACCPAC Plus Accounts Payable which Softrak is not in a hurry to do. However, that may be moot after ACCPAC Plus is officially discontinued later this year.
Workaround: Many users reserve the Address1 field for an extention of the Vendor name (and Custoemr name in Receivables)