You may need to enter more than one address with an account - e.g. invoicing address, headquarters address etc.
In the account details, click the Add option.
Overwrite Place of Business 2 to a new address name, fill in the contact details and save the account record.
By clicking the arrow, you will show the list of all addresses.
You can select an address to every new contact you create.
You can change an address in already created contacts by clicking the Edit option in the contact record detail.