As you know, we have a club rule that if you have lost a ball, you may take relief and 2 strokes, rather than go back to replay the shot. Below is provided to help show how to take relief and comes from the USGA.
E-5 Alternative to Stroke and Distance for Lost Ball or Ball Out of Bounds
Purpose. When a provisional ball has not been played, significant issues with pace of play can result for a player needing to take stroke-and-distance relief for a ball that is out of bounds or cannot be found.
The purpose of this Local Rule is to allow a Committee to provide an extra relief option that allows a player to play on without returning to the location of the previous stroke.
The Local Rule is appropriate for general play where golfers are playing casual rounds or playing their own competitions.
The Local Rule is not appropriate for competitions limited to highly skilled players (that is, professional competitions and elite amateur competitions). For guidance on when and how this Local Rule may be used in order for scores to be submitted for handicapping purposes, consult the rules or recommendations contained within the Handicap System operating in the local jurisdiction.
Where a Committee has introduced such a Local Rule for general play, and removes it for competitions, it should ensure that all players are aware of this before play begins.
A Committee may introduce such a Local Rule for all play on the course or only for one or two specific holes where it may be especially useful (for example, where players are unable to see the landing area and therefore may not know whether or not to play a provisional ball).
This option allows the player to drop in a large area between the point where the ball is estimated to have come to rest or gone out of bounds and the edge of the fairway of the hole being played that is not nearer the hole.
The player gets two penalty strokes when using this relief option. This means that the relief is comparable to what could have been achieved if the player had taken stroke-and-distance relief.
This Local Rule cannot be used for an unplayable ball, or for a ball that is known or virtually certain to be in a penalty area.
If a provisional ball is played and neither the original ball nor the provisional ball can be found, then the Local Rule may be applied for the provisional ball that cannot be found.