In the bowl of a stand mixer, beat the butter until creamy on medium speed. Add in the granulated sugar and beat until the mixture is light and fluffy, about 3 minutes.

Beat in the egg yolk and almond extract.

Turn the mixer to low and mix in the salt and the flour, scraping down the sides of the bowl as needed. Mix just until combined.

Form the dough into a disk and wrap with plastic wrap. Refrigerate for at least 4 hours or overnight.

Allow the dough to sit at room temperature for 30 to 45 minutes, then preheat the oven to 375 degrees (F).

Line 2 baking sheets with parchment paper.

Roll the dough out on a well-floured surface to 1/8- to 1/4-inch thick and, using a cookie cutter, cut into 2-1/2 to 3-inch rounds. Transfer onto the prepared baking sheets. Re-roll scraps and repeat the process two times.

To form the rounds of dough into bell shapes, fold two edges of the upper half of the cookie over to the middle, overlapping somewhat. The top of the cookie should be narrow, and the bottom half should be wide. Refrigerate the shaped cookies on the baking sheet for 10 minutes, then place the halved cherries on the wide bottom half, just below the fold, to resemble a bell clapper.

Bake the cookies for 10 to 12 minutes, until the edges are barely golden brown. Remove from the oven and allow to cool on the baking sheet for 5 minutes, then transfer to a wire rack to cool completely.

Stir the confectioners’ sugar, meringue powder (if using), and the water together until completely smooth. You want the icing to be thick. Place the icing into a piping bag fitted with a size 3 round tip.

Outline the completely cooled cookies to resemble a bell, leaving the center fold line un-iced. Allow the icing to dry for at least 8 hours to harden.

Store leftover cookies in an airtight container with waxed or parchment paper between the layers, at room temperature for up to three days.