System Notes v2 and System Notes are separate systems. There is no change to the existing System Notes. System Notes v2 captures audit trail information for supported records.
System Notes v2 captures detailed changes such as sublist information and groups the changes under high-level actions. The audit trail enables you to see the types of changes performed on record fields, such as create, update, change, and so on. You can also see the date and time each change was performed and by whom. System Notes v2 retains information for deleted transactions and records, whereas in existing System Notes the details of deleted transactions and records are lost.
System Notes v2 lists the most recent changes at the top of the page. To view details of the action, use the arrows in the Object column to expand the information. This expandable format reduces the amount of data first displayed when you browse the audit trail so that you can get an overview of the history and then view the details to investigate specific changes.
The following screenshot shows the arrows you click to expand and collapse system notes v2 details:

The following table describes the actions System Notes v2 captures on an object and its values.
| Action | Description |
|---|---|
| Create | New object created. |
| Change | Existing object changed. |
| Delete | Existing object deleted. |
| Set | Default value of new object set. |
| Update | Value of existing object updated. |
| Unset | Value of existing object removed. |