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Fed up with the fish but settles the bill (7)

Ross

I believe the answer is:

defrays

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'settles the bill' is the definition.
I can't tell whether this defines the answer.

'fed up with the fish' is the wordplay.
'up' is a reversal indicator (in down clue: letters go upwards).
'with' says to put letters next to each other.
'the fish' becomes 'rays' (I've seen this before).
'fed' reversed gives 'def'.
'def'+'rays'='DEFRAYS'

'but' acts as a link.

Can you help me to learn more?

(Another definition for defrays that I've seen is " Bears the expenses of".)

I've seen this clue in The Globe and Mail.
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