Wallace and his Gers team-mates beat the Pars comfortably at East End Park in an SPFL League One match back in December.
But the left-back reckons that emphatic victory has no relevance ahead of their fifth-round match at Ibrox on Friday night.
He said: "We know that we beat Dunfermline 4-0 the last time we played them.
"But we have to expect a really tough game. They are sitting second in the league and will want to do well in this tournament as well.
"But we know what to expect from them. If we apply ourselves right and play to the standards that we are capable of then I think we will be alright."