The 25-year-old summer signing from Preston scored his first goal of the campaign in Saturday's emphatic 3-0 home win over Leicester.
The result maintained the Clarets' impressive start to the campaign and left Wallace in buoyant mood.
"We're confident we can get back up into the Premier League," said Wallace.
"We've had a good start and we've just got to keep going.
"It's a tough league with some big clubs and good teams but we're just concentrating on ourselves."