Season flour with salt and pepper. Lightly coat meat with flour mixture.
Heat olive oil in large pot. Brown meat over medium-high heat, in multiple rounds, careful not to overcrowd the pan. Once you've browned all the beef, add it all into the pot together.
Add garlic to the pot with the beef and saute for about 30 seconds or until fragrant. Add the beef stock, water, beer, red wine, tomato paste, sugar, thyme, Worcestershire sauce, and bay leaves. Stir to combine.
Bring the mixture to a simmer. Reduce the heat to low, cover and cook for about an hour. Check on it every 15 minutes or so and stir.
In a separate medium sized pot, melt the butter. Add the onions and carrots. Saute for about 15 minutes until they are soft and golden. Set aside.
After an hour, add the onions, carrots and potatoes to the stew. Season with salt and pepper. Simmer uncovered until veggies and beef are nice and tender, about 45-50 minutes. Discard the bay leaves (don't forget this!).
Tilt the pan and spoon off any visible fat off the top layer of the stew. Transfer the stew to a bowl, season with salt and pepper, top with fresh parsley, grab some crusty bread and enjoy.