Recording System Audio-Out + Built-in Mic While Using Earphones (Notability or other)

I've been using Notability to record meetings, as the recording is tied to notes, so finding specific information after the meeting is much easier; however, for online meetings (GoogleHangouts, FaceTime etc), I wear earphones so as to not disturb my coworkers.

Does anyone know of any way I could set things up so that Notability records the signal going out to the earphones, as well as the input from the built-in mic?

Alternatively, if using earphones with a built-in mic would offer a solution, I'd certainly be willing to invest.

This feature is incredibly helpful for staying organized, but I haven't been able to figure out a work-around for these online meetings (& > 50% of my meetings are online...).

Thanks in advance for your time & help!

Audio Hijack, from Rogue Amoeba, does a fantastic job with this. Perhaps a bit overkill for your needs, but it allows you to route audio channels to equalizers, to separate or combined files, etc. It's extremely powerful.

Given your use case though, I think Soundflower (which is free) may be just the ticket. Soundflower creates a virtual audio device that allows you to listen to your audio channel and use it as an input at the same time. (For example, you could record and listen to a radio broadcast at the same time).