Delete the gift and re-add it with the correct gift type. 

OR

Globally delete the gifts committed through batch and recommit them with the correct gift type

OR

Update the gift type through query, export, and import

OR

  1. Adjust the gift amount of the payment to $0.00. 
  2. Add a reason or a note for why it was adjusted to $0.00. 
  3. Enter a new gift (or payment) with the correct gift type. That will allow for the ability to track the old, incorrectly entered gift, and track the new gift as well.