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Moving your curser over the Prospecting tab on the left side toolbar reveals the Prospecting pop out panel.
Type in the name of the company you are looking for in the "Search For" field. Enter in the city and/or state in the "Location" field and select "Get Results".
Find the result you are looking for and click the "New Company" button. "New Company & Contact" will allow you to enter your company and contact all in the same window however it is important to remember to set the "Default Bill To" and "Primary Salesperson" where applicable which has to be done in the "Company Information" window.
