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Xero.com -- been using them for about 2 years now, very happy.

They also tie into freshbooks.com which we use for customer billing.

Combined they allow us to focus on other stuff, like building the business.... we have one guy that does the accounting stuff and it goes really smoothly.

I prefer http://outright.com and its free.

check out these guys - http://lessaccounting.com/

And their story's here:

http://mixergy.com/less-allan-branch/

Ask HN: Web based bookkeeping?