How to record discounted rate purchase of t-bills

Question

I just purchased a t-bills from treasury direct and the purchase was for a discounted rate.  How do I record the discount on the purchase since the actual t-bill is for a higher value?

Tom Young · Answer

@glenn 
"I thought there would be a way to just adjust the value."That's what the "quote" is for.  You buy it at a discounted price.  As the t-bills age you change the quote , finally up to the "100" at maturity.Then sell the t-bills as I described; instead of "capital gain" you record "interest."

glenn · Answer

That is what I suspected but then my treasury account will never balance to my quicken account.   I thought there would be a way to just adjust the value.

Tom Young · Answer

You use the discounted price as your purchase price:
When the t-bills mature you sell them for the same price as the Price paid - no gain or loss - and record the "extra" cash, the cash that brings to t-bills up to their maturity value, as IntInc.