This is from page 65 of the Panorama Handbook.pdf:
Like most programs, Panorama normally stores only one copy of each database on the disk. If you wish, however, you can tell Panorama to keep a second copy of a database. This extra backup copy can help protect you from mistakes.
The backup copy of a database is a copy of what was saved the second to the last time. Having a backup copy of the database means that if you make a mistake and save when you didn’t mean to, you can still get back to the previous version of the database.
The backup copy of the file has the same name as the original with.b added. On Macintosh computers the.b is added at the end of the filename (for example the backup file for Checkbook is Checkbook.b). On Windows computers the .b is added just before the .pan extension (for example the backup file for Contacts.pan is Con- tacts.b.pan).
Macintosh computers are limited to 32 character file names. Because of this limitation, the original filename cannot exceed 29 characters if the Keep Backup option is used. (If the filename is more than 29 characters, Panorama will ignore the Keep Backup option.)
To tell Panorama to keep a backup copy, use the Save As command to save the file and check the Keep Backup Copy of Database option. Once this option is checked, Panorama will keep a backup copy whenever the file is saved.