The history section contains all records created by users that show how the account has gone through your system including Notes, Documents, Phone Messages, Follow-Ups and Status Changes.
With company locations, you want to be sure to only save notes and documents that affect the company. Do not put notes or documents that would affect a specific project into these sections. Users will not be looking in the history of a company for anything related to a project. One exception might be a blanket purchase order issued by the customer to your company that will be used for multiple projects, or a floor plan that may be used on multiple projects.