Combine the jelly and chili sauce in a large pan and melt the jelly over medium heat. Add the meatballs, stir, cover the pan, and cook over medium-low for 30 minutes or until the meatballs register 170 degrees on an instant-read thermometer.

Transfer the meatballs with a slotted spoon to a mixing bowl, turn up the heat to high, and cook the liquid until it thickens and reduces by two thirds, 10-12 minutes, stirring frequently. Add the meatballs back to the liquid, stir gently, and keep warm until serving.

Garnish with parsley.