@skatie474
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 specific file from that back up
Note that in the app store there is now some "backup" apps you can subscribe to, one subscription per company file. What these do is take a "snapshot" of your QBO data so you can restore it if needed. But in terms of a standalone back up file that you can access, or save against a future audit, no there is none.
QBDT with hosting is a better deal than QBO IMO, but then only if you really need QB access from odd places.
a non partisan comparison of QBO vs QB desktop
http://onsale-apparel.com/Rustler/qbo-or-qbdt
(cost comparisons are at the end of the article)