He returned to the club on February 14th following a previous two-month stint at the Citadel, where he made five appearances for Russ Wilcox's side.
He added four substitute appearances to his tally over the course of his latest stay.
Wallace, who can also play at full-back, has already made three first team appearances for United this season, two of which were starts. He's scored two goals in 11 starts for the Iron Under-18s.
He made four appearances in his first month with the side, joining in early December 2022, starting in Farsley's FA Trophy third round victory over Chester. He added his fifth appearance for the side as a 79th minute substitute away at Alfreton Town during his second spell.
He returns to the side ahead of their away league encounter against Scarborough Athletic at the Flamingo Land Stadium this evening (7.45pm kick-off).