Here’s what you CAN do! Periodically, in QBO go to the Gear > Tools > Export Data. But with QuickBooks Online, you don’t have that option, because it doesn’t make local backups. If I were using QuickBooks Desktop, I could always go into a backup file from a few days ago and restore it. So I’m not really concerned about someone breaking into my file, but what I AM concerned about is that there is no way to go back in time, if something unexpected happens with my transactions (read: I make a big fat mistake…but I’m a ProAdvisor so that never happens to me…).
They insist that it’s stored in multiple locations, with backups, and that all are encrypted. One consideration if you’re using QuickBooks Online is that you are storing your company’s mission-critical data on Intuit’s server.
