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Only if they are very careful to never have it open at the same time. Even then I can't vouch for the way that Sharepoint updates each copy.  The safest approach is to have the automatic backup mechanism write to the shared folder and to extract the file locally each time.

Another approach for simultaneous use is covered here:

http://www.qblittlesquare.com/2012/12/sharing-your-quickbooks-file-across-networks/

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