Hey, long time lurker but new poster here.
As a small software consultant with a team of 3, I found the QBO did the job for us. I was a LessAccounting customer for quite some time but as I moved into new business complexities I couldn’t manage the books there anymore. LA served me very well for a couple of years and I was quite happy with the software. That said, there was a point where less wasn’t enough. I think our needs moved out of their target market.
I have had some issues with QBO as well but I do not think it is bad software. It’s pretty good, and quite frequently updated. With one major exception – last year, there was an issue with QBO synchronizing with Chase bank accounts for several weeks. You can use it in ways that are pretty basic if you want to, or you can run a decent sized business on it.
The main issue for me with oversimplifying accounting is that accounting complexities often arise as an extension of tax code complexities or the general minutiae of buying and selling materials, tracking employee compensation, taxes, retirement contributions, health insurance, operational expenses (not to be confused with purchasing assets, which may or may not be fully depreciated during the year), accumulating sales tax, tracking owner draws and contributions, synchronizing external accounts with the transaction ledger, branding invoices, differentiating between invoices/estimates/packing slips, tracking contractor payments for 1099, etc., etc., etc.
I do not think accountants who shy away from accounting software that can’t address the above needs are always being lazy or disingenuous. If you’re a programmer, imagine if your customer asked that you use a basic text editor instead of the IDE you are used to. You wouldn’t take the job.
That all said – if you are a single consultant selling a single service that you deliver yourself, I think LessAccounting or similar services do a good job of serving those needs. Also worth noting that QBO and QuickBooks desktop are very different products. If you have tried the latter but not the former I think you’d be in for a surprise.