Please let me know if my files are back up daily. Also, I need to speak with someone about a potential internal problem we are having.
In theory your online file is continually backed up to multiple servers in multiple locations.
In practice it is backed up at a bare minimum of once per night on the Amazon cloud in the wilds of Washington state where it is hosted.
Can you access tge backup to restore to a prior point in time or use said backup for other purposes? A big fat NO!!!!! You are using a purely cloud based software as service and nothing other than your login information is stored locally on your devices