Both commercial and open source power system simulators run quasi-static time-series (QSTS) simulations sequentially. For yearlong high-resolution load profiles this sequential execution of load flows incurs long computation times. Parallelizing QSTS simulations on multiple processors is one possible way to reduce the computation time. Parallelization however introduces errors in the simulation results as the initial state of the system at the beginning of each parallelized time period is not known. In this work a Monte Carlo-based approach has been proposed to estimate the initial state of the system for each parallel simulation run to mitigate the errors in the final results. Classical sequential QSTS simulation is the chosen base case against which all other methods have been compared. Results presented in this paper show that the proposed method improves the simulation results considerably. This paper also discusses possible sensitivities of the proposed method to a number of tunable parameters. Additionally, sensitivity analysis results for a number of parameters have also been presented in the results section.