Hi,
You need to define the employee as vendor and you may create multiple control accounts to handle employees,loans and advances. Once done, while posting the payment documents, you can select the loan or advance account accordingly. For others, you can use service type AP Invoices for the employee.
By doing so, when you go the employee master (supplier in SBO), you can take a look at the account balance and you can also check the account balance based on the control account selected.
Check the same in test db for better understanding.
Thanks,
Joseph