I'm trying to record depreciation (CCA) for the leasehold improvement accounts and noticed there is no contra-asset associated with them. Is this account even depreciable? From what I understand, leasehold improvements are supposed to be depreciable. Should I just reverse all entries and slot them in furniture & equipment?

 I'm using simply entrepreneur

Leasehold improvements should be in there own capital asset account. They are depreciable. Leaseholds are improvements that will remain with the building when the business leaves. The normal depreciation schedule is straight line based on the length of the lease.

For further information se IT464

It's ok, I basically took an asset class that I will never use, changed the name to acc. amort. -leasehold improvement and changed the GIFI code to match the CRA's GIFI index, then changed the account to "acc. amort. & depreciation".

 The only problem now is when I produce a report, it's still filed in the credit card receivables section in the balance sheet. How do I make want I need possible.