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You may cancel your account, put your records in XLS for the time being, and resubscribe your account within 12 months later.
Another option, consider to utilize this 3rd party tool to migrate your data between QBO accounts.
Once you are ready to proceed, open a new QBO account with discounted price for up to 6 months.
If you are able to run this process once, you may repeat it for every semester to minimize your cost.
Hope it helps.
Welcome aboard to the Online Community, Fearn7.
In addition to @Fiat Lux - ASIA answer, I've laid out the steps to cancel the service. Let’s go to the Account and Settings page to perform this action.
Check out the Cancel your QuickBooks Online subscription article for more information. It also includes tips on how to keep your data.
If you want to activate the subscription, the following guide will walk you through the steps: How to resubscribe or reactivate QuickBooks Online.
Reach out to me if you have any other concerns or questions. Please know the Community has your back and I’m here ready to assist further. Have a good one.