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Buy nowWe appreciate you for clarifying things about your concern with backing up company files in QuickBooks Online, @fyarwood.
I'd like to share some details on how it works.
Only the Advanced version currently has the ability to back up an existing QBO company. This replaces whatever information you entered and overrides the company data.
If you're presently using QBO Advanced, here's how you can do it:
See this module for the complete steps: Make a copy of your QuickBooks Online Advanced company.
I'm also adding these guides about file management: Back up and restore your QuickBooks Online Advanced Company.
Please let us know if this goes. You can always leave a comment below so we can assist you with any data management or QuickBooks concerns. Stay safe!