Community service can be tracked on the student record on any of the three tabs, all can be printed on report cards and transcripts and updated via import.

On the Activity tab, you have the most preset fields to track community service work, for example Dates, Hours/Week and Weeks/Year. On the Notes tab, you can create a Notepad Type named Community Service Notes and add notes in a free form text box.  
On the Attributes tab, if you only want to track the community service hours for each student, you can create an attribute named Community service hours.  Then you can update the value via a spreadsheet import as often you like.  The hours can be printed on the header of report cards and transcripts.