I use Fanurio and my wife, who is an equal shareholder, does all the accounts side of things in excel, so we always know exactly where we are. She is a spreadsheet queen. I glaze over as soon as I even see the word excel – unless it has the word Lotus preceding it!
I had the same experience as mojo and it took me some time to find something that would import the data from the defunct software and to trust I could trust it. I still periodically export everything in tab delimited format – just in case. Once bitten, and all that.
For us it is not so critical, as all business-sensitive information, like mojo, is done within spreadsheets, once it’s invoiced. I use Fanurio to assign job numbers, time-track and invoice, if it all fell over tomorrow I could pick up almost immediately. I guess that’s the same as not really realising how important backing up is until you loose stuff.
I’d never do anything business-critical without a contingency now – well apart from the wife bit. The fact my my wife is my business partner; I suspect, wife contingencies wouldn’t go down all that well.