Yes. You can set user accounts to expire at the Group level on the Group General tab. Also you can set user accounts to expire at the User level on the User General tab.
If you have created a user account and have it set to expire on a given date, then the user will not be able to connect/log in to the server on or after that date. They will be able to log in to the server on any date prior to the expiration date.
You can also use events to create single-use user accounts: