Why You Need To Back Up Your Online Financial Data

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Security breaches of any kind can cause disruption, but when financial data is involved, the consequences of a data breach are serious—both for the financial services provider and the client. Massive amounts of money can be lost, sensitive account information compromised, and both employees of the business and its customers are likely to be adversely affected.

As the systems and processes enabling our banks and financial institutions to operate become increasingly more digitized, the opportunity for fraud and infiltration becomes an even more pressing issue.

The Importance of Backing Up QuickBooks Online Financial Data
QuickBooks Online is the accounting software of choice for more than 29 million small businesses in the US. It’s used in just about every industry, favored for its user-friendly interface and variety of integrations.

QuickBooks Online performs platform-wide backups, but those taiwan phone data can’t be used to restore individual account data (known as the Shared Responsibility Model, many SaaS platforms operate under this model).

SMBs use QuickBooks QuickBooks Online for daily accounting and bookkeeping, and accounting firms leverage the app to service multiple clients. QuickBooks Online performs platform-wide backups, but those can’t be used to restore individual account data like transactions, expenses, or reports. If any of that information were to be lost or compromised, it would be incredibly difficult and stressful to have to rebuild the data—not to mention the uphill battle you’d have convincing clients that they should trust you with their accounts.

Read more about what accountants need to know about safeguarding client data.