Mike_MYOB Your answer doesn't address the fact that there is a security risk in storing the backup on the same server as the original data. This is not acceptable and holds a huge security risk. We don't accept that risk and want to be able to backup to a location of our own choosing, as do many other MYOB users, judging by the comments.
A critical failure (malicious or not) of your server, would be catastrophic. You have been hacked before, we lost all our staff data and we aren't willing to place all our eggs in one basket. No business should, when it comes to their accounting data. We aren't talking about the discontinued SE version of MYOB. We are talking about online users here. To be honest, if you lose all our data, you are facing a law suit and not just from our business. That's not something you should want to risk and I'm surprised that you are.
In the past, if you lost all our data, we could restore it from our own backup, immediately (!!) and continue working. Without the ability to store them in our own location, we will no longer have that option. Business interruption is a big issue and big dollars that would be claimed from you, in the event of a class action (hope you have good insurance).