When I record audio, it is recorded as a wav file. This usually makes the project file huge. I have been exporting the audio as mp3 and then re-importing it as mp3 and then deleting the old wave file. This significanlty helps with reducing the file size. I have managed to reduce a project from 200MB down to 30MB. But I wonder if there is a way to directly record from the microphone to mp3 instead of wav. Is there?