While Creating BG in Vision Instance facing error "the procedure init_forms has created an error"

While creating BUSINESS GROUP & GRE/LEGAL ENTITY in the Respnosibility "Payables Responsibility" 

Payables: Setup > Organizations

I am facing the following Error

"APP-PAY-06153: System Error: Procedure INIT_FORMS at Step 1

Cause: The Procedure INIT_FORMS has created an error at Step 1.

Action: Contact your system administrator quoting the procedure INIT_FORMS and Step 1"

Solution

Go to System Administrator Responsibility

Navigation : Profile > System

Check the Profile Option "HR Business Group". You will observe BG is having Null Value.

Assign the BG as here it is "Vision Corporation" and Save the Work.

Go to System Administrator Responsibility

Navigation : Profile > System

Check the Profile Option "HR Security Profile". You will observe profile option is having Null Value.

Assign the Security Profile as here it is "FA:Vision Corporation" and Save the Work.

Retest the Issue and you will observe Page open with out error.