Changing sql server service and sql server agent service startup account in SQL Server hosting SharePoint DB

i have a sharepoint deployment with one SQL Server (running on VM) hosting the config DB and another SQL Server (Physical Host because VM was running out of space) to host the huge Content DBs. I need to schedule automatic backups of the Content DBs to a network share. For that i need to run the SQL Server Service with an account having permissions to the share as suggested in support.microsoft.com/kb/207187?wa=wsignin1.0

I tried changing the logon as a service account to a domain account which has permissions to the Network Share and is also in local Administrators group of SQL Server and has “public and sysadmin” roles in SQL Server but that caused an issue. the SharePoint Web Application started showing a White Screen so I had to revert back to the default accounts i.e. NT Service\SQLSERVERAGENT and NT Service\MSSQLSERVER. I viewed the event logs . These are the types of error i got after changing the logon as a service account to a domain account

1) Information Rights Management (IRM): Retried too many times to initialize IRM client. Cannot retry more. Retried times is:0x5.

System
Provider
[ Name] Microsoft-SharePoint Products-SharePoint Foundation
[ Guid] {6FB7E0CD-52E7-47DD-997A-241563931FC2}
EventID 5148
Version 15
Level 2
Task 9
Opcode 0
Keywords 0x4000000000000000
TimeCreated
[ SystemTime] 2015-02-02T04:46:04.750899500Z
EventRecordID 176477
Correlation
[ ActivityID] {8FACE59C-1E17-50D0-7135-25FDB824CDBE}
Execution
[ ProcessID] 6912
[ ThreadID] 8872
Channel Application
Computer
Security
[ UserID] S-1-5-21-876248814-3204482948-604612597-111753
EventData
hex0 0x5

2) Unknown SQL Exception 0 occurred. Additional error information from SQL Server is included below.

The target principal name is incorrect. Cannot generate SSPI context.

System
Provider
[ Name] Microsoft-SharePoint Products-SharePoint Foundation
[ Guid] {6FB7E0CD-52E7-47DD-997A-241563931FC2}
EventID 5586
Version 15
Level 2
Task 3
Opcode 0
Keywords 0x4000000000000000
TimeCreated
[ SystemTime] 2015-02-02T07:01:35.843757700Z
EventRecordID 176490
Correlation
[ ActivityID] {50B4E59C-5E3A-50D0-7135-22AD91909F02}
Execution
[ ProcessID] 6912
[ ThreadID] 5452
Channel Application
Computer
Security
[ UserID] S-1-5-17
EventData
int0 0
string1 The target principal name is incorrect. Cannot generate SSPI context.

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1 Answer
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The service account doesn’t matter for SharePoint so you’re probably better off looking into this as a SQL Server issue. After changing the service account, did you try querying the databases through Management Studio to make sure they were still accessible?

This is a steb-by-step of how to change the SQL Server accounts: msdn.microsoft.com/en-us/library/ms345578.aspx use the Version drop down for your SQL Version

and this describes all the permissions that are configured during the Installation process (and I think this is where something went wrong):
msdn.microsoft.com/en-us/library/ms143504.aspx and msdn.microsoft.com/en-us/library/jj219062.aspx