** FOR GARLIC BREAD; cut slices down the length of the bread about 1-inch intervals without cutting all the way through.
In a bowl, combine the softened butter with garlic, parsley and Parmesan cheese; mix well to combine.
Spread the butter/garlic mixture between bread slices, and then on the top of the loaf (you may sprinkle more Parmesan cheese on top of the loaf if desired).
Wrap the bread in heavy-duty foil leaving the top partially uncovered.
Bake until heated through (about 15 minutes).
** FOR GARLIC TOAST; slice the bread into slices, then spread the garlic butter mixture over the top of each slice of bread, then sprinkle more Parmesan cheese over the top of each slice or you can sprinkle shredded cheddar cheese on top in place of the Parmesan.
Place onto a baking sheet and bake (350 degrees F) until lightly toasted to desired doneness.
TO MAKE AHEAD: Combine all ingredients (except the bread) store covered in refrigerator for up to 3 days or freeze in a covered container ----- this bread can be made without the addition of the Parmesan cheese if desired, but of course it's better with the cheese!