Configuiring backups in WHM *PLEASE HELP*

Hi we need to configure backups to run but were not sure what to enter in whm. We are on the backup configure page.

We want to generate backups everyday to "/home2/backups"
of every account, mysql, email, etc on our server. We want to be able to restore these backups if something happens.

All our current accounts are also on /home2 so would it be bad to save backups at /home2/backups? We were thinking of saving backups to /home since it's blank but the techs at Hostgator said to do it on /home2

Ok so we need help to get this setup please.
We dont know what to enter into the backups page. Can someone tell us what we need to enter into the page like do we to set Backup to "Enabled, Disabled or Restore Only" etc for what i mentioned we want to do above?

Please someone help i will really appreciate it a lot i need help ...