ToFixed and formatNumberWithDecimal

 Yes, but only if your goal is exactly 2 decimal places.

Your function:

formatNumberWithDecimal(12.345)

returns:

"12.345"

while:

(12.345).toFixed(2)

returns:

"12.35"

because toFixed(2) rounds and always produces exactly 2 decimal digits.

If you want exactly 2 decimals

You can replace the whole function with:

export function formatNumberWithDecimal(num: number): string {
  return num.toFixed(2);
}

Examples:

formatNumberWithDecimal(12);      // "12.00"
formatNumberWithDecimal(12.5);    // "12.50"
formatNumberWithDecimal(12.34);   // "12.34"
formatNumberWithDecimal(12.345);  // "12.35"

If you want at least 2 decimals but preserve extra precision

Then toFixed(2) is not a replacement.

Examples:

InputCurrent FunctiontoFixed(2)
1212.0012.00
12.512.5012.50
12.3412.3412.34
12.34512.34512.35

So whether toFixed(2) can replace it depends on the intended behavior. Most applications that display prices, currency, percentages, or measurements with two decimal places typically use toFixed(2).

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