What is the best business/payroll software?

I've been doing a little research and I just want to know opinions on what works the best to manage money and bills for a small business - also payroll for up to 5 employees.

I agree with anyone who mentioned QuickBooks as an accounting solution. I may be a little biased since I used to work at Intuit, makers of QuickBooks, but I believe it is the gold standard for small business accounting solutions. They have taken complex accounting terms like "debit and credit" out and replaced them with simple to understand terms like "pay my bills."

On the other hand I would strongly encourage you to use caution in selecting Intuit as a payroll provider. They'll try to dazzle you with their "seemless integration" between QuickBooks and their payroll service, but what they won't tell you is that it's very fragile and error prone. Not to mention you still do most of the work - enter employees, enter hours/salary, print paychecks, print reports, make payroll deposits, file tax returns, etc. It's a far cry from a fully outsourced payroll service. Intuit also has a fully outsourced payroll service, but they recently announced they are selling it to ADP, so again use caution before selecting Intuit.

My favorite choice for fully outsourced payroll (where you call it in and checks arrive the next day) would be Paychex and for online payroll (where you generally have to enter payroll info and print the checks but the service handles everything else) is either Sure Payroll or Pay Cycle.

P.S. I don't work for any of these companies, but I do run the site mentioned below.

I work for a small business and we use MYOB as our accounting system. I had no prior accounting experience however I was able to invoice, receive payments and so on with very little training. I think it's fairly simple to use, having said that I'm not familiar with other types of software so I may be wrong.

Quickbooks is by far one of the easiest to use if you don't have any accounting experience. One thing I love about it is how it keeps track of all of your payroll liabilities. For a yearly fee, it will also prepare your state forms. Very worth it, in my opinion. It is very easy to pull up your aging AR reports, see what bills are due now, etc.
I have used Quickbooks since 1996...back when I didn't know anything. Since then, I have gotten my degree in Accounting (had the opportunity to try many software packages) and I am still using Quickbooks. It is the very best for a small business.