I've been looking for an alternative to Quickbooks for...well...ever since I first bought Quickbooks seven years ago. Don't get me wrong; I'm not a Quickbooks hater like some but I do want a simple, straight forward, multi-user, online, collaborative solution. Not asking for much am I?
Anyway, I found this great site, lessaccounting.com
via some suggestion on twitter. I've setup a couple of my businesses and it seems to work well. The existing system is very nice allowing for multi-user access to enter deposits, payments, etc. Also, the site allows for import of your quicken or quickbooks data to get started. It doesn't have electronic bill pay or transaction download but having multiple people entering their transactions kinda covers that.
I'll keep using it and let you know what I think. If you're looking for an accounting system and haven't laid out the $319.00 for QB Premier or $150 for QB Pro, you may want to checkout less accounting.