In a large mixing bowl, cream together butter and sugar until fluffy. Beat in water and vanilla.
Stir in flour and pecans until well combined. Shape dough into 1-inch balls. Place at least 2 inches apart onto two lightly greased or parchment-lined baking sheets.
Place shaped cookies into the fridge for 30 minutes while the oven preheats to 325 degrees Fahrenheit.
Bake in the preheated oven for 18 to 20 minutes until lightly golden. Remove from oven and let cool completely on the baking sheet.
Roll cooled cookies in powdered sugar*. Store in an airtight container. Cookies stay good for about 3 to 5 days.
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Notes
*One alternative is to roll your cookies in powdered sugar while still warm. The powdered sugar will melt slightly and create a different effect on the cookie. Try both and see which you like best! Either way is delicious.