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cash on hand. Definition. Funds that are immediately available to a business, and can be spent as needed, as opposed to assets that must be sold to generate cash. The amount of cash on hand determines what projects a company can undertake, or what financial hardships can be absorbed, without going into debt or arranging other financing.
Cash might be king, but some cash accounts reign over others. Depending on where your cash is stashed might make a difference in your business' success or failure. If a company has no cash on hand, it might be headed toward bankruptcy. However, if its petty cash is empty, it just means that someone probably needs to go to the bank or ATM. Cash on Hand Cash on hand is the total amount of any accessible cash.