Backup DB to separate server disk via SQL Job

Question

Due to memory allowances, I need to backup my database to a separate remote server disk which has more space.

I want to do this using a scheduled job but it is not allowing me.

Is this even possible?

I've tried the below code, but get the error:

cannot open backup device

I'm wondering if I need to add access credentials to the server but am not sure how.

DECLARE @Location nvarchar(200)
DECLARE @Day    int
SET @Day = DATEPART(dw, getdate())

Set @Location = '\\server2\E:\SqlBackups\'
Set @Location = @Location + 'Day'+ cast(@Day as nvarchar(1)) + '\'
Set @Location = @Location + 'COST.bak'

BACKUP DATABASE COST TO  DISK = @Location WITH FORMAT, INIT,  NAME = 
N'COST-Full Database Backup', SKIP, NOREWIND, NOUNLOAD,  COMPRESSION, 
STATS = 10

declare @backupSetId as int
select @backupSetId = position from msdb..backupset where 
database_name=N'COST' and backup_set_id=(select max(backup_set_id) from 
msdb..backupset where database_name=N'COST' )
if @backupSetId is null begin raiserror(N'Verify failed. Backup 
information for database ''COST'' not found.', 16, 1) end
RESTORE VERIFYONLY FROM  DISK = @Location WITH  FILE = @backupSetId,  
NOUNLOAD,  NOREWIND
GO

Answer 1

Check your UNC path it has to have "$" instead of ":"

Set @Location = '\\server2\E$\SqlBackups\'