[markw10]

I am setting up a daily backup of my Mac which will backup the entire documents folder which will backup my office documents as well as from what I understand my Entourage data since that is saved in a Microsoft User Data folder under Documents.
My question, I want to save my Safari bookmarks as well. Where are they located?

[analogika]

In your home folder's Library folder --> Safari.

This is where ALL your personal application settings are stored.

Just back up your entire home folder, and you will have everything.

[Madrag]

you could also do the following in Safari:

File > Export Bookmarks...

It will save a nice html file

I re-reaq your post and this won't help for periodic backups, unless you would do it manually.
analogika's suggestion for backing-up the home folder (or at least the home/Library) is the right way to go.