Combine potatoes, onions and water in a boiling pan. Bring to a boil.
Add bouillon cubes, parsley, salt and pepper.
Cook, covered, for 20 minutes or until tender.
Meanwhile, cook bacon and drain off fat and set aside.
Combine 1 cup of milk and flour. Add to soup.
Simmer until thick, stirring constantly.
Add remaining milk. Heat until hot.
Crumble bacon over top and serve.