QB Issue Resolution:

QBO does not have a back up at all from the user perspective. And when you close your account Intuit will only save the company data as a read only file for one year, then it is deleted – which does not help if an audit occurs in year 2 or 3.

Intuit backs the servers up, but can not restore your file from that back up

the make local copy provides you with a copy that does not contain all financial information, and can not be used locally, nor can it be used to upload to the old or a new QBO file
https://qboe.custhelp.com/app/answers/detail/a_id/1774/related/1

the export to desktop provides you with a file that must be opened in desktop within 10 days, and the file has known problems, some things do not export, inventory exports as service items with no history, these known problems have existed for over 6 years
https://qboe.custhelp.com/app/answers/detail/a_id/1447

The only real option to get all your data is to have an accountant log in and print or export to excel the general journal. (Or invite yourself as the accountant, create the log in, and log in as the accountant so you can use the accountant tools.) Due to QBO’s limited data handling capability that will probably have to be done in date segments.
(Note: simple start does not have a true general journal report at all.)

As of 4/15 there is an online back up in beta by a third party company, Jobber, the back up is called Safety Net. It does allow you to create and restore from an online back up for QBO. However, that back up is not usable on the desktop computer, and you can only back up the file it was created from, it can not be used to create a new file.

Resolution for Issue 'We are about to go through an audit of our business (not financial audit) and for the business continuity plan, we are being asked to backup our accounting data.' available: Yes (Solved).
Source: Intuit Community forum.

We are about to go through an audit of our business (not financial audit) and for the business continuity plan, we are being asked to backup our accounting data.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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