I think this is the same issue I encountered on a Mac. To change the backup folder, I had to change the backup folder name in two places, first on the Folders tab, and second in the Schedule Tab.
Thank you very much this fixed it.
To elaborate, I went to the Schedules tab, picked the daily schedule, and selected edit from the icon in the upper right. I changed the backup folder in the schedule and saved it.
I ran test by making a duplicate and adjusting the time, and it ran perfectly.
Again, my thanks.