Do You Need to do Backups for QuickBooks?
QuickBooks Desktop
Backing up QuickBooks is a critical task for any business owner who relies on the software for their accounting and financial operations. QuickBooks Desktop is a powerful tool that helps businesses manage their finances, track expenses, and generate important reports, but it is also vulnerable to data loss and corruption. A backup of your QuickBooks data ensures that you have a copy of your financial information in case something goes wrong.
Here are some reasons why backing up QuickBooks is so important:
Protection against data loss: There are many things that can cause data loss, such as hardware failure, natural disasters, malware, or human error. If you do not have a backup of your QuickBooks data, you may lose all of your financial information, which can be devastating for your business. Having a backup ensures that you can quickly recover your data and continue running your business.
Compliance with regulations: Depending on your industry and location, you may be required by law to keep accurate financial records. If you do not have a backup of your QuickBooks data, you may not be able to provide the necessary documentation in case of an audit or investigation.
Peace of mind: Knowing that you have a backup of your QuickBooks data can give you peace of mind. If something goes wrong, you can quickly recover your data and avoid any disruptions to your business operations.
So, how can you back up your QuickBooks data? There are several options available, including:
QuickBooks Backup: This built-in feature allows you to create a backup of your QuickBooks data and save it to a local or external drive. It is recommended to use either a cloud connected drive such as Google Drive, Dropbox, or OneDrive.
Online Backup Services: There are several online backup services available that can automatically back up your QuickBooks data to the cloud. This service comes included with QuickBooks Desktop Enterprise subscriptions.
Manual Backup: You can also manually copy your QuickBooks data file to an external drive or another computer. Note: never keep your company working file in a cloud-backed up folder.
Aren’t automated server or scheduled backups enough?
Not necessarily. If you use QuickBooks in a multi-user environment, it is essential to still do manual backups in single-user mode. This along with the complete verification option selected, will also verify your QuickBooks data file for corruption. If there is a problem, then QuickBooks will prompt you to rebuild your data file in an attempt to fix the issues. Following this process will ensure that you are backing up a clean data file. It will also improve the performance when working in QuickBooks.
Quickbooks online
You don't need to worry about saving your QuickBooks data on a flash drive because QuickBooks Online automatically backs your data up with the same level of security used by banks and financial institutions.
Data security is a first priority for Intuit, the company that created QuickBooks.
How does Intuit keep your data safe and secure?
Whenever there are changes to your company file, your data is saved to two hard drives.
They periodically copy all data to a third-party hard drive in order to protect your data in case something happens to the first two hard drives.
Automatic backups are performed every night.
Should I still back up my QuickBooks Online data?
You should, if you want to restore your data to specific point in time. If you subscribe to the QuickBooks Online Advanced subscription, the option to back up to a 3rd party app is included. For the other subscription levels, Rewind is a 3rd party app that can provide daily automatic backups, for a fee.
No matter which method you choose, it is important to back up your QuickBooks data regularly. Ideally, you should back up your data at least once a week or more frequently if your business operations generate a lot of transactions.
Backing up your QuickBooks data is a critical task that should not be overlooked. It is important to protect your financial information from data loss, comply with regulations, and ensure business continuity. By backing up your QuickBooks data regularly, you can enjoy peace of mind and focus on growing your business.
