How and why to backup QuickBooks Online
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DESCRIPTION:
Though QuickBooks Online is server-based, it's still important to have a backup of your records. QuickBooks Online Advanced allows creating a backup to be rolled back to at any time, or one can use the app "exportmybooks" (https://www.exportmybooks.com/) which gives a physical copy of the QuickBooks file that can be opened in QuickBooks Desktop, though the cost is around $100. Even if the option isn't utilized however, it's still necessary to have a backup.
TRANSCRIPT:
With QuickBooks Online, a lot of people think, "Oh, I don't need to back it up because it's on a server." But that's on a server on somebody else's computer. It's still a good idea for you to have an export of your records.
One thing that you could do is have an export that is exactly what your books were when you submitted them for taxes for the year.
And there's a couple of different approaches that you can take. If you're using QuickBooks Online Advanced, up under the gear, there's a backup company option, and then you can create a backup that you can roll back to at any time.
But that's just a rollback. It's not an actual copy that you can open. If you would like a physical copy on your own computer that you can then open up in QuickBooks Desktop, there's an app called exportmybooks. It's like $100, but it gives you an actual copy of your quickbooks file that is opened-up-able in QuickBooks Desktop so that you can have that hard copy.
Even if you don't do that. I do recommend running a packet of reports of all of the different things about your year so that you have a year in review. That way if anything EVER happens if you still have your business records.
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