This is a complete double-entry accounting package, which means you must understand accounting to use it. Most of us know about income and expenses, but the bookkeeping accounts related to assets, liabilities, and owner equity can be hard to interpret. If you already use an accountant to keep records straight, NetLedger might simplify the process. The accountant could set up the books and give instructions for posting transactions. Both you and the accountant would have access to the books at any time over the Web, even if the accountant were your CPA offspring living on the other side of the country.
Backup files are essential for business records.
If you are comfortable with bookkeeping, go play with NetLedger and see if you like it. This software revolution may or may not happen. For now, it is fodder for computer columnists. Some say Web software will bring down the software industry giants and make the present antitrust actions moot. There are, however, many technical and economic problems to be solved before the Web replaces software in shrink-wrapped boxes.