Well, it depends on your plan.
If you intend to use or are using QuickBooks Online Simple Start, Essentials, or Plus plan, you cannot create a backup. Only the Advanced plan (Singapore edition), which Intuit launched a few months ago, allows you to backup and restore your files.
Think of a backup like making a photocopy of important documents. It saves a complete copy of all your business data in a safe location in case something goes wrong with the original.

Select “Back Up Company” from the Gear icon.
Yes, you are not wrong to think this way. Here’s the thing: QuickBooks Online runs in the cloud, which means Intuit (the company behind QuickBooks) already has its backup systems running 24/7. They automatically copy your data to multiple locations, or rather, they mirror the server storage to a different site.
Think about it—if everyone’s accounting data disappeared, Intuit would be in huge trouble. They have way more to lose than any of us, so you can bet they are taking this seriously.
Maybe.
The price jump to the QuickBooks Online Advanced plan is steep. Consider upgrading if the backup feature is a must-have for you.
If you are thinking about upgrading, here is what else comes with the Advanced plan:
Most small businesses don’t need to upgrade just for backups, but if you’re doing complex transactions or want extra control, it might be worth it.”
What matters most is that you feel confident about your data security—whether that’s trusting the cloud or having your backup copies.