Not a fan of QB Online but do like using cloud-hosted Quickbooks. There is always an additional cost associated with 3rd party accounting hosting however so depends on how you use your information. Do you need more than one person at a time to access the data or need to get to the financial information remotely (while traveling). Do you have an accountant, CPA or bookkeeper that needs to get to the information?
Also need to ask yourself what type of business is involved. Manufacturing has different needs than retail, wholesale, construction or service based companies. The answer will drive software selection.
Stand-alone accounting systems are still useful to the small business owner if there is a single-user involved in doing the entry. Older versions of Quickbooks, Peachtree, Quicken or smaller accounting software packages can be obtained fairly economically via Amazon or eBay. They work fine as long as you don't require payroll calculations.
Quickbooks is known to be "user friendly" but it can also be screwed up pretty fast by users that don't fully understand basic accounting principals. Have cleaned up WAY too many messy QB files of small business owners over the years and its not fun. Get a knowledgeable bookkeeper or accountant to help you set up the chart of accounts before you ever start entering any information.
Check out Xero if you are wanting a reasonably economical online accounting option. They have fairly good support, payroll package options and have had a fast growth over the last several years by small business, bookkeepers and small accounting firms.
Have used all of the above accounting software packages in various versions (and even more) over the years. They all work once you understand the nuances. Finding the best one that works for you however means asking & answering more questions. Know too many people that rushed into buying an expensive software, hated it, and lost $$ in the process.
