Preheat the oven to 400°F (200°C).
In a large bowl, combine ground beef, breadcrumbs, chopped onion, milk, egg, garlic powder, and thyme.
Form the mixture into small, uniform meatballs, about 1-inch in diameter.
Place the meatballs on a lined baking sheet.
Bake in the preheated oven for about 20 minutes or until cooked through.
While the meatballs are baking, prepare the sauce by combining cranberry sauce, soy sauce, and brown sugar in a saucepan over medium heat.
Simmer the sauce for 5-7 minutes to thicken slightly.
Once the meatballs are done baking, transfer them to the sauce and coat them well.
Serve warm, garnished with fresh herbs if desired.