It's a pleasure to see you here in the Community, @caitlin1.
That's a great question! I'm here to share some information about tracking inventory from Square to QuickBooks Online (QBO).
Yes! When importing products from Square using the Sync with Square app, you need the Inventory Tracking feature to automatically match them with their respective product name in QBO. To do this, you'll set up your QuickBooks Items just the way you have them in Square.
To do so, go to your Square account and export your items (products and services) as a .csv file. Then, import this file into QuickBooks under the option to Import Products & Services. For your reference, you may visit this article for more information and scroll down to how do I categorize products/services and move them to pre-assigned accounts: Sync with Square Hub.
Just in case you need it, you may also check out this article that tackles inventory tracking in QBO: Inventory links and resources.
That should answer your question for today. Please let me know if you have additional concerns or any follow-up question by leaving a comment. I'm always here to help. Take care and enjoy the rest of the week!