
das Manko
shortcoming
A flaw, deficiency, or disadvantage that impairs the value or quality of something.
Das größte Manko des neuen Smartphones ist die kurze Akkulaufzeit.
The biggest shortcoming of the new smartphone is the short battery life.
shortcoming / deficit
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shortcoming
A flaw, deficiency, or disadvantage that impairs the value or quality of something.
Das größte Manko des neuen Smartphones ist die kurze Akkulaufzeit.
The biggest shortcoming of the new smartphone is the short battery life.

deficit
A shortfall in a cash register or a shortage of goods that is found during an inspection.
Bei der Inventur wurde ein Manko von mehreren Artikeln im Lager entdeckt.
During the inventory, a deficit of several items was discovered in the warehouse.
'Manko' (shortcoming/deficit) is often used with the verbs 'haben' (to have) or 'aufweisen' (to exhibit/show). To say what exactly is missing, the preposition 'an' is often used, followed by a noun in the dative.
Der Plan hat ein entscheidendes Manko.
The plan has a decisive shortcoming.
The word 'Manko' (shortcoming) for a disadvantage or flaw is mainly used in written language or in a more formal, elevated style.
Trotz einiger kleiner Mankos ist das Buch sehr lesenswert.
Despite a few small shortcomings, the book is very worth reading.
The meaning 'Fehlbetrag' (deficit/shortfall) is specific to the commercial field. Words like 'Kasse' (cash register), 'Inventur' (inventory), 'Lager' (warehouse), or 'Bilanz' (balance sheet) in the sentence clearly point to this meaning.
Der Geschäftsführer war verärgert über das Manko in der Kasse.
The managing director was annoyed about the deficit in the cash register.
mistake / error
When referring to a design, Fehler usually means a specifically misplanned or incorrectly executed element. Manko more generally refers to a deficiency or disadvantage that reduces quality, but it does not necessarily result from incorrect execution. Use Fehler for something objectively incorrect and Manko for an unfavorable feature.

Der geringe Stauraum ist ein Manko des Entwurfs.
The limited storage space is a shortcoming of the design.
Die falsch eingezeichnete Tür ist ein Fehler im Entwurf.
The incorrectly drawn door is a mistake in the design.