How to backup and restore QBO file?

You can export a QBO file, Acr92.

To backup and restore the QBO file isn't available. The best way to backup your QBO file is to export the data and save it on your local drive. Yet, you can only export reports and lists. Here's how:

1. Select the Gear icon and choose Export Data.
2. Add or remove items and set the date range of information you would like to export. 
3. Click Export to Excel.

Once done, a confirmation that your data has been exported will prompt. You can also check this article as a reference on how to export reports, lists, and more

Please let me know if you have other concerns.

Thank you! What would be the steps to restore that data at a later date?

In QuickBooks Online, there is no backup and restore of your QBO file.
You can export to excel reports and lists.

No backup QBO file. You can't restore QBO file.