Some choices for accounting software hosted on cloud.

International

1. xero
2. quick books (for malaysia)

From Malaysia

1. treezsoft (RM120/mo)
2. biztory
3. office central
4. swancount.com (free for 90 trans per month)
5. niagawan.com

Free open source

1. simpleInvoices (not full account. just invoice)
2. webzash.org
3. accounter
4. invoice plane

Free for small business (paid with extra features)

1. pandle
2. wave
3. due invoicing (invoice only)