Once all meatballs have been browned, pour off all but 2 Tbl. of pan drippings. Add 4 Tbl. butter and melt over medium heat. Add flour and whisk until well blended making a roux. Slowly whisk in the beef broth, stirring constantly; scrapping bits off bottom of pan. Bring the sauce to a gentle boil then reduce the heat to low.
Add the meatballs to the sauce. We were able to fit half the meatballs in each batch. Cook meatballs covered over low heat until cooked through about 8-10 minutes. Remove meatballs to a bowl. Pour sauce through a fine mesh strainer then return to the pot. Add in sour cream and jelly and whisk over medium heat until well blended and heated through. Do not boil sauce.
To serve, spoon meatballs over noodles or rice. Ladle sauce over top. Sprinkle with fresh chopped parsley.