The ‘Notes’ area is available in both ‘Companies’ and ‘Contacts’.
Notes area is an open text field intended to capture quick reference information that might be helpful to have readily available when interacting with a company or contact. For a ‘Company’ having a high-level summary statement about the company products and services might be helpful. For a ‘Contact’, helpful information might be listing a spouse’s name, children’s names, favorite sports teams, alma mater, upcoming vacation destination, etc
Notes entries are not searchable fields. To capture data for use in reports or in advanced searches enter an "Activity Note", assign a "Tag" or create a "Custom Field".