diff --git a/hledger/hledger.m4.md b/hledger/hledger.m4.md
index 561c151f2..82be3da25 100644
--- a/hledger/hledger.m4.md
+++ b/hledger/hledger.m4.md
@@ -2311,6 +2311,7 @@ so here is a table summarising the directives and their effects, with links to m
 [`commodity`]:     #declaring-commodities
 [`D`]:             #default-commodity
 [`include`]:       #including-other-files
+[`payee`]:         #declaring-payees
 [`P`]:             #market-prices
 [`Y`]:             #default-year
 [`=`]:             #auto-postings