Although we can treat the rotational, vibrational, and electronic wavefunctions as separate entities, they are all part of the overall wavefunction of the molecule. So, you can transfer all of the energy in the photon to go from a state like (E0,V0) --> (E1,V1).
As an analogy, consider striking a single windchime with a stick. With one strike, you can get the windchime to ring, swing back and fourth, and even rotate.