Quickbooks Online Backup: More Important Than Ever

In today’s digital age, data is the lifeblood of businesses, especially for small-to medium-sized businesses (SMBs). QuickBooks Online (QBO) is a popular cloud-based accounting software used by more than half of SMBs in the USA. That means it’s a very popular product, but also a very large target for attack. While QBO has revolutionized the way SMBs manage their financial data, providing flexibility, accessibility, and security, it also has its challenges and limitations.

The importance of backing up QBO data cannot be overstated. QBO is a platform-based software, and in the event of a data breach, Intuit, the parent company, can restore the entire platform, but they may not be able to restore individual data. According to Intuit’s disaster recovery plan, they are unlikely to recover data lost due to human error, malicious data detection, or CSV import errors. This is where backing up QBO data becomes critical.

Backing up QBO data with a third-party cloud solution ensures business-critical data is protected, even when Intuit is breached. It offers an additional layer of security and peace of mind. In the event of a breach, businesses can quickly restore their financial data and continue their operations without any interruption.

Why should you back up your own Quickbooks data?

In Intuit’s terms and conditions, they state that users are responsible for any lost or unrecoverable content. Section 6.1.1 of the T&Cs states, “You are responsible for any lost or unrecoverable Content. You must provide all required and appropriate warnings, information, and disclosures. Intuit is not responsible for any of your content that you submit through the Services.” This means that if data is lost or compromised, the business is solely responsible for any damages incurred.

We’ve come up with a few other reasons as well. 

Protection against Quickbooks Online data breaches.

One of the main reasons to back up QuickBooks Online is to protect against data breaches. Even though Intuit has security measures in place, there is always a risk that your data could be compromised. Backing up your data ensures that you can restore it quickly and easily in the event of a breach.

Protection against Quickbooks data loss

In addition to protecting against data breaches, backing up QuickBooks Online also protects against data loss. Whether due to accidental deletion, hardware failure, or a natural disaster, data loss can have a significant impact on your business. Backing up your data ensures that you have a copy of your financial information that can be restored quickly.

Compliance with regulations

Depending on the industry you operate in, you may be subject to specific regulations that require you to retain financial data for a certain period. Backing up QuickBooks Online ensures that you are able to comply with these regulations by retaining a copy of your financial data.

Business continuity

If your financial data is lost or compromised, it can have a significant impact on your business operations. Backing up QuickBooks Online ensures that you can restore your financial data quickly, minimizing any disruption to your business operations.

Peace of mind

Finally, backing up QuickBooks Online provides peace of mind. Knowing that your financial data is backed up and can be restored quickly in the event of a breach or data loss can reduce stress and allow you to focus on other important aspects of your business.

Backing up QBO data is a critical task that should not be overlooked. A third-party cloud solution can provide an additional layer of security and peace of mind. By doing so, SMBs can ensure their financial data is protected, and they can continue their operations with minimal interruptions in the event of a breach. It is essential to be proactive and take steps to protect valuable data to safeguard the future of the business.

If your business struggles with implementing proper backups or just wants to review a better plan, get in touch today. We can help implement, train, and protect Quickbooks desktop as well as Quickbooks Online, keeping your company safe.