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QuickBooks: The Benefits of Online Backups
August 21, 2024
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The profitability of modern companies active in domestic markets usually goes hand in hand with their bookkeeping capabilities. Are you facing fierce competition from industry rivals? Does your target audience have high expectations, and has your budget been pushed to its limits? In that case, like the majority of US-based SMEs, you have probably chosen to utilize an online accounting solution like QuickBooks. Online bookkeeping applications can automate much of the financial recordkeeping that would typically fall on your employees’ shoulders. Additionally, they are safe and can back up your data automatically, regardless of their complexity or your business domain.
What are the benefits of a QuickBooks online backup? Firstly, QuickBooks can perform automated copies of your venture’s transactional data at regular intervals without the intervention of your workers. This has two significant effects. First, the attention of your departments can be directed to the elements of your business that may affect long-term profitability. Two, since your data will always be automatically stored at regular intervals, the potential for human error is eliminated. Plus, although it doesn’t work the same as in the desktop version of the application, it is possible to manually back up QuickBooks online or store your transactional data on offline storage solutions.
Contents:
How Can You Back Up QuickBooks Online?
QuickBooks is the most popular accounting program used by American companies. It is a safe and flexible application that is suitable for both SMEs and large corporations, and it can automatically create QuickBooks online backup files, which can subsequently be restored in case of data loss. Can you back up QuickBooks online? Yes, the procedure is straightforward and requires minimal effort. Let’s say you are the administrator of a national company, and you want to perform a manual backup of your data through QuickBooks Online Advanced.
First, you must head over to the Settings tab and click on Back Up Company. Then, you will need to click on Add Company and Connect. After that, from the Action sub-menu, you must select Run a full backup. Does this seem complicated? If so, we can handle it. Do you want to restore your data? In that case, from the settings tab of the program’s interface, our specialists will click on Back Up Company, select the Action sub-menu, click on Restore, and select the date and time of the copy you want to restore. The process is simple and can be carried out in just a few seconds. This is a blessing, as regular backups are crucial to protect your financial data from outside threats.
Are you interested in QuickBooks online backup? Do you want to export your reports? If so, our Texas-based bookkeepers will click on the Reports tab, customize the report parameters, and choose either to export them to Excel or as a PDF. For lists, the process is similar, but we will have to select your clients, vendors, or staff list from the Sales tab. As for downloading your company’s QBO files, this feature is not currently available in QuickBooks online. However, it is present in QuickBooks Desktop.
Where Do You Back Up Your QuickBooks Online Data Files?
QuickBooks online backup and restore is a fantastic tool to ensure the long-term protection of your company’s confidential financial data. However, although the process is automatic and your financial information is available on the cloud and backed up at regular intervals, occasionally, you might want to perform manual data exports and save up this data on offline storage solutions or in a different format. What can you manually export? Everything from financial data such as profit & loss statements, balance sheets, sales receipts, or service lists. These can be saved manually as CSV files, which can then be exported to Excel.
The process is straightforward. Our specialists will just need to select the Export Data tab in the Settings submenu, click on Reports, select the appropriate date, review the reports or lists you want to back up, and then click on Export to Excel. Do you want to save a copy of your company’s financial data by using the built-in backup feature of QuickBooks Online Advanced? If so, it must be noted that some data, such as files previously saved in a CAB format, can’t be restored. Moreover, budgets will have to be exported as a CSV file.
Do you prefer to keep PDF copies of your reports? In that case, a solution to consider is to go to the Reports tab, click on Save as PDF, and then store your newly created file on an external storage device. Plus, if you prefer, our specialists could make use of Zapier templates and connect your QuickBooks online invoice files to Google Drive as plain text. The possibilities when it comes to online or offline QuickBooks backups are endless, and our specialists are keen on discovering solutions that will be appropriate for your venture’s workload.
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Where to Store Your Backups?
The handiest solution is to use free cloud storage solutions such as Google Drive or Dropbox, which have the advantage of being accessible on any device as long as you have a stable web connection. Moreover, cloud storage is safer than offline solutions, as it features built-in measures to keep your data secure even in case of external attacks. With offline storage, your backups will be dependent on your security measures and how well they scale up with the growing demands of your business.
Are you still keen on creating offline backups? If so, the best thing you can do is utilize our reputable bookkeeping experts and let us import your data to external hard drives, which are not connected to the internet. Such backups are impervious to external data attacks. However, you will need to keep in mind that offline storage can suffer failures as the years go by. Do you run a large business and need to store large data files that are accessible to employees working remotely? If so, one solution could be to use a NAS.
Network-attached storage is overkill if you use it only to perform regular backups of your financial data. However, if you are already utilizing it for other data storage purposes, it makes sense to leverage it for your financial data as well. Not least, if time is of the essence, one solution could be to utilize paid backup solutions such as Carbonite, which can create copies not only of your QuickBooks data but also of other documents existing in your workstations.
Nothing Beats Flexibility
Offline storage solutions can be helpful. However, QuickBooks online backup will be the safest way to ensure the protection of your venture’s confidential financial data. When you back up QuickBooks online, your financial data will be secured with the help of SSL 256-bit encryption, which practically guarantees that your private information will not be susceptible to external threats. Moreover, if your QuickBooks data is lost and corrupt, you can quickly restore it with the help of previous storage backups located either in the cloud or in your offline NAS or hard drives.
The backup function available in QuickBooks online is flexible and can successfully accommodate the data expansion needs of your venture. Plus, performing manual backups of your financial data via QuickBooks is straightforward and beginner-friendly, and it can streamline the other operations required from your employees. However, whether you choose to back up your financial data online or store it in an offline storage solution, the most important thing is to create a regular backup schedule and not depend on a singular storage plan. Data backup is necessary for nationally active companies. It can mean the difference between a situation that will require a few minutes to fix or one that may represent the end of your corporate ambitions. So, it would be best if you took it seriously.
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