Symantec DLO - can't add storage location - specified path is invalid

Issue

Cannot create a new Storage Location in Symantec Backup Exec Desktop and Laptop Option. When trying to add an existing local or remote folder following error is displayed:

Warning htlps://www.veritas.com/support/en_US.html
The specified palh is invalid.
Unable lo create the directory 'D:\Backups\DLO' on computer '<Server-Name>'. Please check the path does not reside on a read-only device such as a CD-ROM drive and that the DLO database service logon account has sufficient permissions to create the directory. You can change the logon account via the Services control panel. Service returned error code 0xb03b018.

Resolution

The issue was caused by Backup Exec DLO SQL service being run by Network Service account. To resolve the issue I had to change this to a domain account that had admin permission for the storage location in question.

Symantec Backup Exec Desktop and Laptop Options (DLO) 8.0 SP2
Windows Server 2012

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