Soundsource updated version 2.0 about a month ago, so if you use the application, you may want to update.

Soundsource has become the most used application on my system. No joke! If you are constantly switching between headphones, speakers, microphones, and headsets, then you need this application. It lets you do all of this stuff from the menu bar, without having to open up the sound section in the system preferences.

It’s a pretty straightforward application so I’m not going to get into it much, but one thing worth noting is that version 2.0 allows you to control the levels of your input or output device from the drop down menu in the menu bar.

This is one of those applications I probably couldn’t live without.  I highly recommend you download it. It’s a free application from Rogue Amoeba.