TFB. If it ain't written down, you ain't got it.
Also, if one person is recording the loot acquired during an adventure, that person has all the loot. If you want to give it to someone else, have them record it on their sheet.
Finally, if the DM (that's me) looks at your sheet and can't figure out what an entry is, it's gone. This is actually the origin of my being hardnosed on equipment. I've had too much sloppy book-keeping where (as an example) the PC is being targeted by a thief and I make all the rolls to spot the given item, pick pocket it, etc. and when I announce the PC notices the item is gone, they say "You can't do that, it's on my horse," or some such. This, despite the fact that it's written on their sheet, between their sword and their shield w/o any special notes beside it. Thus, the "your paperwork reflects your reality" rule.