I have updated to 1.4.7 from 1.4.6 and the /setup ran fine and reported the DB updated etc. However the version has not updated in the Settings - System Settings - Update page.
I read the other similar posts but I had removed the redirect for setup and so did not have any error showing on the run through.
Any ideas? Can I check with something differing between the two to confirm it is 1.4.7 and not 1.4.6?
Please check your database and confirm, that e.g. in the ip_invoice_items table, the item_name column has VARCHAR(500) as the data type.
If yes, all setup database actions should be completed successfully and somehow the setup did not upgrade the version.