diff --git a/hledger/Hledger/Cli/Commands/Balance.md b/hledger/Hledger/Cli/Commands/Balance.md
index e81ea374f..e735f4fb9 100644
--- a/hledger/Hledger/Cli/Commands/Balance.md
+++ b/hledger/Hledger/Cli/Commands/Balance.md
@@ -476,7 +476,7 @@ or one of the equivalent simpler flags:
- `-V/--market` : like --value=end
- `-X COMM/--exchange COMM` : like --value=end,COMM
-See [Cost reporting](#cost-reporting) and [Valuation](#valuation) for more about these.
+See [Cost reporting](#cost-reporting) and [Value reporting](#value-reporting) for more about these.
#### Combining balance report types
diff --git a/hledger/Hledger/Cli/Commands/Print.md b/hledger/Hledger/Cli/Commands/Print.md
index f60049dae..c1fdc3fb0 100644
--- a/hledger/Hledger/Cli/Commands/Print.md
+++ b/hledger/Hledger/Cli/Commands/Print.md
@@ -57,7 +57,7 @@ $ hledger print assets:cash | hledger -f- -I reg expenses:food
There are some situations where print's output can become unparseable:
-- [Valuation](#valuation) affects posting amounts but not [balance assertion](#balance-assertions) or [balance assignment](#balance-assignments) amounts, potentially causing those to [fail](https://github.com/simonmichael/hledger/issues/1429).
+- [Value reporting](#value-reporting) affects posting amounts but not [balance assertion](#balance-assertions) or [balance assignment](#balance-assignments) amounts, potentially causing those to [fail](https://github.com/simonmichael/hledger/issues/1429).
- [Auto postings](#auto-postings) can generate postings with [too many missing amounts](https://github.com/simonmichael/hledger/issues/1276).
- [Account aliases can generate bad account names](#aliases-can-generate-bad-account-names).
diff --git a/hledger/hledger.m4.md b/hledger/hledger.m4.md
index 1bacd9e9a..2ab35c8a0 100644
--- a/hledger/hledger.m4.md
+++ b/hledger/hledger.m4.md
@@ -1627,7 +1627,7 @@ Here are all hledger's directives, with their effects and scope summarised - nin
| **[`decimal-mark`]** | Declares the decimal mark, for parsing amounts of all commodities in following entries until next `decimal-mark` or end of current file. Included files can override. Takes precedence over `commodity` and `D`. | Y |
| **[`include`]** | Includes entries and directives from another file, as if they were written inline.
Command line alternative: multiple [`-f/--file`](#multiple-files) | N |
| **[`payee`]** | Declares a payee name, for checking all entries in all files. | N |
-| **[`P`]** | Declares the market price of a commodity on some date, for [value reports](#valuation). | N |
+| **[`P`]** | Declares the market price of a commodity on some date, for [value reports](#value-reporting). | N |
| **[`~`]** (tilde) | Declares a periodic transaction rule that generates future transactions with `--forecast` and budget goals with `balance --budget`. | N |
| Other syntax: | | |
| **[`apply account`]** | Prepends a common parent account to all account names, in following entries until end of current file or `end apply account`. | Y |
@@ -2180,7 +2180,7 @@ overriding the file extension (as described in
The `P` directive declares a market price, which is
a conversion rate between two commodities on a certain date.
-This allows [value reports](#valuation) to convert amounts of one commodity
+This allows [value reports](#value-reporting) to convert amounts of one commodity
to their value in another, on or after that date.
These prices are often obtained from
a [stock exchange](https://en.wikipedia.org/wiki/Stock_exchange),
@@ -2206,7 +2206,7 @@ P 2010-01-01 € $1.40
```
The `-V`, `-X` and `--value` flags use these market prices to show amount values
-in another commodity. See [Valuation](#valuation).
+in another commodity. See [Value reporting](#value-reporting).
@@ -4725,7 +4725,7 @@ generally the resulting query is their intersection.
## Queries and valuation
-When amounts are converted to other commodities in [cost](#cost-reporting) or [value](#valuation) reports,
+When amounts are converted to other commodities in [cost](#cost-reporting) or [value](#value-reporting) reports,
`cur:` and `amt:` match the old commodity symbol and the old amount quantity,
not the new ones
(except in hledger 1.22.0 where it's reversed, see [#1625](https://github.com/simonmichael/hledger/issues/1625)).
@@ -4737,7 +4737,7 @@ note that `acct:` will match either the old or the new account name.
## Querying with cost or value
-When amounts are converted to other commodities in [cost](#cost-reporting) or [value](#valuation) reports,
+When amounts are converted to other commodities in [cost](#cost-reporting) or [value](#value-reporting) reports,
note that `cur:` matches the new commodity symbol, and not the old one,
and `amt:` matches the new quantity, and not the old one.
Note: this changed in hledger 1.22, previously it was the reverse,
@@ -5184,8 +5184,9 @@ alias h="hledger --infer-equity --infer-costs"
and let us know what problems you find.
+
-# Valuation
+# Value reporting
Instead of reporting amounts in their original commodity, hledger can convert them to
cost/sale amount (using the conversion rate recorded in the transaction),
@@ -5269,7 +5270,7 @@ If both occur on the same day, the P directive takes precedence.
There is a downside: value reports can sometimes be affected in
confusing/undesired ways by your journal entries. If this happens to
-you, read all of this [Valuation](#valuation) section carefully,
+you, read all of this [Value reporting](#value-reporting) section carefully,
and try adding `--debug` or `--debug=2` to troubleshoot.
`--infer-market-prices` can infer market prices from: